FTSE 100 Hits Record High Amid Market Fluctuations and Political Shifts

London's FTSE 100 reached a record high driven by mining stocks and defensive shares, despite Barclays' decline due to exposure to a collapsed lender. The index continues its longest winning streak since 2012, supported by optimism over potential interest rate cuts, though tempered by AI disruption worries.

London's FTSE 100 soared to a new peak on Friday, showcasing the resilience of heavyweight miners and defensive stocks even as Barclays shares took a hit.

Barclays slumped 4.2% amid concerns over its financial exposure to the collapsed UK mortgage lender Market Financial Solutions (MFS), which entered administration following allegations of financial misconduct. Meanwhile, the blue-chip index climbed 0.6%.

The FTSE's notable performance, marking its longest winning streak in a decade, was buoyed by speculation of a Bank of England rate cut, though offset by trade uncertainties and AI concerns.

(With inputs from agencies.)