Mining And Finance Stocks Drive FTSE 100 To Record High

The FTSE 100 hit a fresh record high, climbing to 10,991.07 before easing to 10,931.47, as mining and financial stocks led gains. Strong second-quarter earnings from NatWest, including a 29.7% rise in profit attributable to ordinary shareholders, boosted sentiment in UK banks. Miners also advanced, with Anglo American, Antofagasta, Rio Tinto and Glencore all higher. Broader support came from technology and industrial names as concerns over AI infrastructure spending eased. However, some stocks fell sharply: IG Group dropped nearly 11% after announcing a $1.3 billion U.S. acquisition and pausing its buyback, while Melrose Industries slipped on higher expected costs tied to a US facility incident. The move underscores broad-based strength in UK equities, though the index’s advance was driven mainly by sector-specific earnings momentum rather than a single macro catalyst.