FTSE 100 Hits Record High Amid Healthcare Stock Surge

The UK's FTSE 100 closed at a record high due to a boost from healthcare stocks, led by GSK's impressive earnings. The FTSE 250 also rose. Investors await the Bank of England's monetary policy decision as the focus shifts to potential interest rate adjustments. Business sectors remain volatile.

Boosted by strong performances in the healthcare sector, the UK's FTSE 100 hit a record high on Wednesday, closing up 0.85% at 10402.34 points. Leading the charge was pharmaceutical giant GSK, which climbed 6.9% after releasing positive fourth-quarter results, setting the stage for a new growth phase focusing on R&D.

Swiss insurer Zurich's takeover proposal saw Beazley shares surge by the same margin, influencing the nonlife insurance index upward by 4.7%. Meanwhile, European software stocks continue to face pressure as investors shift toward value-based options, shaking confidence in tech markets.

Despite growth in Britain's services sector, price increases pose challenges ahead of the Bank of England's policy meeting. The BoE is anticipated to maintain its current borrowing rate, awaiting further inflation clarity. With mixed performances in other sectors, market volatility remains a central concern.

(With inputs from agencies.)