FTSE 100 Climbs to Record High Amid Healthcare Stock Surge

London's FTSE 100 reached a record high, driven by strong performances in healthcare stocks, following AstraZeneca's strategic partnership announcement. A weaker pound bolstered exporters, while mid-cap indices rose significantly. The rally was further fueled by economic optimism and notable performances in retail and supermarket sectors.

In a remarkable market performance, London's FTSE 100 index achieved a record high on Tuesday, propelled by robust gains in healthcare stocks. The surge follows AstraZeneca's announcement of a strategic partnership, triggering widespread investor confidence. The FTSE 100 closed 1.4% higher at 10,112.73 points, benefiting from the weakened pound, which advantages British exporters.

The healthcare sector notably shone, lifting both the UK index and Europe's wider STOXX 600 index. AstraZeneca's shares soared 5% after unveiling its new collaboration with Bostongene aimed at advancing oncology projects. Other notable performers included Oxford Biomedica and GSK with gains of around 4% each, while the rising prices of gold and silver supported precious-metal miners amid ongoing geopolitical concerns.

UK stocks have had a strong start to the year, with the FTSE crossing the 10,000-point threshold for the first time last week. Investors anticipate potential rate cuts by the Bank of England later in the year. Significant moves include fashion retailer Next climbing 4.9% on a better-than-expected sales report, and Ocado's shares jumping 11.6% following a report citing impressive sales growth over the Christmas quarter. Additionally, a Deloitte survey indicates a slight increase in optimism among British corporate executives post-budget announcement.