FTSE 100 Surges Amid Inflation Concerns and Market Movements

The FTSE 100 index rose again, driven by gains from Segro and HSBC ahead of a key inflation report. HSBC's new CEO appointment boosted the banking sector, while Segro's rental performance impressed investors. Precious metal miners faced declines, while positive energy sector movements also influenced FTSE performance.

The FTSE 100 index experienced a second day of gains on Tuesday, significantly buoyed by rising shares in Segro and HSBC. Investors are keenly awaiting a domestic inflation report set for release later this week.

HSBC's stock climbed by 2% following the appointment of David Lindberg as CEO of its UK operations, propelling a 1.2% increase within the bank's index. Segro reported an uptick in third-quarter rent signings, elevating its shares by 2.8% and securing its position as the top performer in the FTSE 100.

Meanwhile, the FTSE 100 index was up 0.2% at 9,422 points at 1038 GMT. Conversely, the UK's borrowing for April to September hit a record high, imposing additional pressure on Finance Minister Rachel Reeves as she finalizes the forthcoming budget. The anticipated inflation report suggests the rate may have reached 4% in September, a figure considerably above the Bank of England's target.

(With inputs from agencies.)