FTSE 100 Hits Record High Amidst Healthcare Surge

The FTSE 100 reached a new record high as healthcare stocks soared. AstraZeneca and GSK led gains, while real estate bolstered midcaps. Despite manufacturing setbacks and geopolitical uncertainties, the UK market showed resilience, driven by sectoral strengths and positive corporate earnings.

The FTSE 100, London's leading stock market index, closed at an unprecedented high on Wednesday, driven by robust performance in the healthcare sector. This notable achievement came as investors contended with the uncertainties resulting from the U.S. government shutdown.

Gains were spearheaded by industry behemoths like AstraZeneca, which soared 11.2%, and GSK, up 6.1%, amid a backdrop of strengthened ties between Pfizer and the U.S. administration over drug pricing. The midcap FTSE 250 also rose, buoyed by advances in real estate and consumer discretionary stocks.

However, not all sectors shared the prosperity; the aerospace and defence index led losses, and Tate & Lyle's forecast cut sent its shares plunging. Despite these mixed fortunes, the market remains on alert for signals from the Federal Reserve amidst a global landscape shadowed by political and economic uncertainties.

(With inputs from agencies.)