FTSE 100 Hits Record High Amid Economic Shifts

London's FTSE 100 reached a historic intraday peak as a weaker pound influenced by rising unemployment and slowing wage growth spurred investor interest. AstraZeneca's stock hit record highs, while expectations grew for a Bank of England rate cut in December due to labor market conditions.

The London-based FTSE 100 index soared to a new intraday record on Tuesday, benefitting from a declining pound influenced by recent economic indicators showing increased unemployment and slowing wage growth.

Boosted by favorable quarterly results, AstraZeneca stock surged to an all-time high, further establishing its dominance as the UK's most extensive listed company.

With unemployment rising to a four-year peak and wage growth decelerating, anticipation for a possible Bank of England rate reduction in December is increasing, according to Deutsche Bank economists.

(With inputs from agencies.)