11.02.202616:55:25UTC+00FTSE 100 Rallies to New Record

The FTSE 100 climbed more than 1% on Wednesday to a fresh record near 10,480, outperforming most major European indices as strong gains in miners, oil majors, and homebuilders powered the advance. Commodity-linked stocks led the rally: Shell added about 3% and BP more than 5%, while miners benefited from firmer metals prices, with Antofagasta up nearly 6%, Rio Tinto around 3%, and Anglo American over 2%. Among precious metal producers, Fresnillo gained 3.1% and Endeavour rose 2.7%.

Homebuilders also surged following reports that the UK government is considering a new Help to Buy scheme aimed at supporting first-time buyers and bolstering housing demand. Vistry climbed 4.7%, Taylor Wimpey 5%, and Persimmon 5.1%. London Stock Exchange Group edged higher after reports that activist investor Elliott is building a stake. By contrast, wealth and data-focused stocks came under pressure amid concerns about potential disruption from artificial intelligence, with RELX dropping 6%.