FX.co ★ FTSE 100 Rises Toward New Record

The FTSE 100 climbed 0.3% to a new record high near 10,475 on Monday, supported by gains in banking, defence and energy shares as risk appetite improved and geopolitical developments lifted market sentiment. Defence stocks advanced after Keir Starmer called for closer defence and trade ties with the European Union, fuelling expectations of stronger military cooperation and higher defence spending. BAE Systems rose 3%, Babcock International gained 3.3% and Rolls-Royce added 2%.

Banks also rallied as investors rotated back into riskier assets, with NatWest jumping 5%, Barclays up 1.8%, and HSBC Holdings and Standard Chartered each gaining about 1.3%. Oil major BP rose more than 1%, providing additional support to the index’s move to fresh record territory.