FTSE 100 Surges to Record High Amid Oil and Defence Gains

The UK's FTSE 100 reached a new record, driven by oil and defence stocks, following U.S. actions against Venezuela. The index rose above 10,000 points, with companies like Shell and BP boosting the growth. Geopolitical tensions and positive financial sentiment also contributed.

The UK's FTSE 100 index set a new record on Tuesday, surpassing the 10,000-point threshold. The gains were fueled by rises in oil and defence stocks following recent U.S. military actions in Venezuela.

As of 1012 GMT, the FTSE 100 climbed by 0.5% to 10,057.56 points, maintaining its position above 10,000 since achieving that milestone last week. Despite this uptick, the mid-cap index fell slightly by 0.1%, and the pan-European STOXX 600 saw only a minor increase of 0.1%.

The index's success is attributed to its strong performance in 2025, surpassing both Europe's STOXX 600 and the U.S. S&P 500, primarily spurred by commodity sector gains and anticipated monetary policy easing by the Bank of England. Industry giants Shell and BP saw shares increase as oil prices rose amid uncertainties over Venezuelan crude production. Meanwhile, the Aerospace and Defence index increased 1.9%, with notable rises in Rolls-Royce, Babcock International, and BAE Systems.

(With inputs from agencies.)