FTSE 100 Reaches New Heights Amid U.S. Shutdown Hopes

The FTSE 100 index set a new record close, bolstered by utilities and mining shares, amid optimism of a resolution to the U.S. government shutdown. Utilities led gains with SSE's surge following its investment announcement, while mixed performances were seen elsewhere as market participants await key UK GDP figures.

London's FTSE 100 index achieved its third consecutive record close, driven by substantial gains in utilities and mining sectors. Investors are increasingly hopeful that the deadlock over the U.S. government shutdown may soon be resolved, boosting market sentiment.

The blue-chip index edged up by 0.1%, nearing the 10,000 mark. Notably, the utilities sector rose by 4%, led by SSE's impressive 16.8% jump after revealing a massive £33 billion investment plan to enhance the UK's electricity networks and grow its renewable energy projects. Metal miners also saw a 1.3% increase as global copper prices strengthened.

Elsewhere, investment banking stocks fell by 1.7%, with 3i Group experiencing a 3.3% drop. Industrial and homebuilder shares were also under pressure, while energy stocks declined amid falling oil prices. Market watchers are now focused on the forthcoming UK GDP figures, which are expected to provide insights into the country's economic landscape.

(With inputs from agencies.)