London equities experienced an uptick on Wednesday, as the blue-chip FTSE 100 reached a record high for the second consecutive session, buoyed by robust forecasts from pharmaceutical giant GSK and retailer Next. The FTSE 100 was up 0.8% to 9,779.32 points, as of 1205, also aided by a weaker pound that boosts revenue for internationally-focused companies. The domestically-focused FTSE 250 edged up 0.2%.

Healthcare stocks gained 2% and provided the most significant uplift to the FTSE 100. GSK gained 3.3% after raising its 2025 sales and earnings forecasts on strong sales of its specialty HIV and cancer medicines. Next’s shares surged 7.5% to a record high following the company’s announcement of an increase in its full-year profit guidance for the fourth time in eight months. The broader retail sector experienced a surge of 3%. “Next is benefitting from a virtuous circle in its international business – strong sales are enabling more spending on digital marketing which in turn drives higher profitable sales, enabling a higher digital marketing budget, pushing sales further ahead,” stated Steve Clayton, head of equity funds at Hargreaves Lansdown.

Attention will now turn to the monetary policy meeting of the U.S. Federal Reserve. Market participants anticipate a 25-basis-point reduction in interest rates and will closely analyze remarks from Chair Jerome Powell for insights into the forthcoming policy trajectory. Among other stocks, Glencore gained 6.2% after the miner’s third-quarter production report showed copper output surged 36% quarter-on-quarter.

Gold miner Fresnillo advanced 6.5%, as brokerage Peel Hunt raised its target price to 1,954 pence from 1,493 pence. Precious metal miners rose 4.5% and led sectoral gains, tracking a bounce in gold prices. Meanwhile, data indicated that lenders approved a greater number of mortgages in September than in any previous month of 2025, potentially alleviating recent indications of caution within the housing market in anticipation of Finance Minister Rachel Reeves’ upcoming budget next month.