FX.co ★ FTSE 100 Ekes Out Another Record

The FTSE 100 experienced a 0.6% rise, reaching a new peak at 10,241 on Thursday. This increase was fueled by a revived risk appetite and substantial gains in financial stocks. Banks were at the forefront of this upward movement, following unexpectedly positive UK economic data that bolstered confidence in growth prospects and credit conditions. November's GDP showed a 0.3% increase, recovering from a downturn in October and surpassing expectations. Additionally, an optimistic outlook from real estate agents provided further support to property-related stocks. Among the key players, HSBC saw a 1.8% boost, while NatWest and Barclays each climbed approximately 1%, Lloyds increased by 1%, and Standard Chartered edged up close to 1%. Schroders, an asset management company, surged over 9% after announcing that earnings would top forecasts, driven by a favorable asset mix and stable cost management. The mining sector also contributed positively, with Rio Tinto, Glencore, and Antofagasta all experiencing gains. Conversely, defensive healthcare stocks underperformed, with AstraZeneca and GSK both decreasing by roughly 2%, and BP falling by more than 1%.