The UK’s FTSE 100 reached a record high on Wednesday, driven by increases in mining and healthcare stocks, while education company Pearson experienced a decline following the loss of a New Jersey contract. The blue-chip FTSE 100 was up 0.3% as of 1010, following a subdued session the previous day. The domestically focused mid-cap index was down 0.37%. The precious metals and miners index climbed 1.9% after gold prices jumped 1% to $4,632.03 per ounce, buoyed by softer U.S. inflation data that reinforced expectations of interest rate cuts by the Federal Reserve and stoked demand for safe-haven assets amid geopolitical uncertainty.”

A more interventionist Donald Trump who is pressuring the Fed, demanding corporations do as he wishes, and plans to take Greenland are all driving flows into the relative safety of gold,” said Kathleen Brooks. In a separate statement, Bank of England policymaker Alan Taylor indicated that UK interest rates ought to continue their downward trajectory, as inflation is projected to reach the 2% target by mid-2026, ahead of earlier predictions. London-listed miners experienced an uptick, with Antofagasta, Rio Tinto, and Glencore seeing gains ranging from 1.1% to 2.1%, driven by an increase in copper prices.

The pharmaceutical index advanced by 1.6%, buoyed by heavyweight AstraZeneca following the drugmaker’s agreement to acquire Boston-based Modella AI, reflecting the industry’s growing reliance on artificial intelligence to expedite drug discovery. Capping gains on the FTSE 100, the media index slipped 2.8%, dragged by an 8% drop in Pearson, the benchmark’s worst performer.

The British education company disclosed that its largest segment, Assessment & Qualifications, has lost a contract with New Jersey, which is expected to pose a challenge in the first half of 2026. BP opens new tab fell 1.3% after the oil major said it expects to book $4 billion to $5 billion in fourth-quarter impairments, mainly tied to its energy transition businesses.