FTSE 100 Rides High: Miners and Banks Lead Pre-Holiday Surge

London's FTSE 100 index rose 0.3% on Tuesday, buoyed by strong performances in banking and mining stocks ahead of the Christmas break. Driven by a recent interest rate cut, the index continued its upward trend, with notable gains seen in mining companies like Anglo American, and financial institutions such as HSBC and Barclays.

London's FTSE 100 index closed 0.3% higher on Tuesday, led by gains in the banking and mining sectors as trading slowed ahead of the Christmas holidays.

Thanks to the Bank of England's recent interest rate cut, the index reached a five-week high, with mining giants Anglo American, Antofagasta, and Rio Tinto seeing significant upticks due to surging copper prices.

Financial stocks like HSBC and Barclays also saw modest increases, and overall, the FTSE 100 has gained 16% this year, paralleling gains in the STOXX 600 and S&P 500 indexes.