FTSE 100 Reaches Record High Amidst Market Shifts

Britain's FTSE 100 closed at a record high, driven by gains in mining and healthcare sectors. Amidst this, the media sector faltered, with Pearson experiencing a significant drop. Meanwhile, UK interest rates are predicted to fall as inflation targets are likely to be met earlier than expected.

On Wednesday, Britain's FTSE 100 achieved a record high, spurred by significant gains in the mining and healthcare sectors. The blue-chip index closed at 10,184.35 points, marking a 0.46% rise, while the FTSE 250 ended slightly higher at 0.1%. Major miners such as Rio Tinto, Atalaya Mining, and Glencore saw notable increases, fueled by soaring copper prices and a sustained rally in gold.

The pharmaceutical sector also stood out, with a 2% uptick thanks to AstraZeneca's acquisition of Boston-based Modella AI. This move highlights the industry's growing reliance on artificial intelligence to innovate drug discovery processes. Meanwhile, the Bank of England's Alan Taylor signaled potential interest rate cuts as inflation is projected to meet its 2% target sooner than anticipated, potentially leading to two moderate rate reductions by year-end.

Despite these gains, the media sector suffered a setback, with the index dropping 2.5% due to a 9.5% decline in Pearson. The company faced challenges after losing a significant contract in New Jersey. Additionally, Household goods on the FTSE 350 index fell by 3%, impacted by an 8.8% drop in Vistry, which reported a decrease in forward sales for 2026.

(With inputs from agencies.)