FTSE 100 Hits Record High Amid Global Market Rally

The FTSE 100 soared to a record closing high as global stocks rose on signs of a potential end to the U.S. government shutdown. Diageo shares surged 5.2% after appointing former Tesco boss Dave Lewis as CEO. Investors focused on U.S. economic developments and upcoming UK GDP data.

The UK's FTSE 100 reached a historic closing high as global stock markets responded positively to indications that the prolonged U.S. government shutdown might soon conclude. The stock surge was further fueled by Diageo's significant 5.2% gain after the announcement of Dave Lewis, former Tesco chief, as its new CEO.

Notably, the appointing of Lewis, regarded highly in financial circles, aims to revitalize Diageo, which has seen its shares languishing near decade lows, down by about 27% this year. "The stock is unloved after several years of disappointment," remarked AJ Bell's head of markets, Dan Coatsworth, highlighting investor optimism despite recent setbacks.

Meanwhile, U.S. economic developments and the Federal Reserve's limited data reporting are being watched closely, while investors anticipate further insight from UK's GDP data and earnings reports. Other market movements included gains for metal miners and British Airways parent IAG. London's RHI Magnesita also saw a robust 16.9% jump in its share prices.

(With inputs from agencies.)