FTSE 100 Rises to New Record High
The FTSE 100 reached a new record high, rising over 0.5% due to strong corporate earnings and positive UK economic sentiment. AstraZeneca shares increased by 3.5% following solid second-quarter results, while Barclays rose 2.5% despite mixed reports. Greggs reported a 7% revenue increase. The IMF predicts UK economic growth will outpace other major European economies. Additionally, Zoopla data indicated rising demand in the housing market, with mortgage approvals in June exceeding expectations.
The FTSE 100 rose over 0.5% to a new record high on Tuesday, lifted by strong corporate earnings and improved sentiment around the UK economy.
AstraZeneca shares jumped 3.5% after reporting solid second-quarter results, driven by strong cancer drug sales and reaffirmed guidance.
Barclays also advanced 2.5% despite a mixed report, as its investment banking division outperformed, aligning with peers benefiting from trade-related market volatility.
Greggs reported a 7% rise in first-half revenue, overcoming weaker footfall due to the hot weather.
Adding to the upbeat tone, the IMF forecast that UK economic growth will surpass other major European economies this year and next.
On the housing front, Zoopla data showed a rise in demand during July, while mortgage approvals in June slightly exceeded expectations, pointing to signs of resilience in the UK property market.
