FX.co ★ FTSE 100 Approaches Record High

The FTSE 100 climbed 0.3% to 10,908 on Wednesday, edging closer to its record high set on February 27. Rio Tinto added about 1.3% after reporting a sharp increase in second-quarter profit and detailing plans to further cut costs and bolster cash generation. Standard Chartered advanced 3.8% as the bank delivered better-than-expected quarterly earnings and unveiled a new share buyback program.

Reckitt was among the strongest performers, jumping 4.3% after quarterly sales beat forecasts, extending the positive momentum seen in Unilever’s recent results. Glencore gained more than 2% after projecting first-half marketing earnings of around $3.3 billion. Oil majors also traded higher, with BP up 3.4% and Shell 2.8% as Brent crude rebounded amid renewed geopolitical tensions.

In contrast, Aberdeen Group dropped more than 4% following weaker first-half fund flows, while St James’s Place slipped 2.3% despite reporting stronger-than-expected assets under management and continued net client inflows.