FTSE 100 Hits Record High Thanks to Miners and Industrials

London Stock Exchange

London’s FTSE 100 reached another intraday record high on Thursday, buoyed by the performance of miners and industrial stocks, as investors evaluated the rising tensions in the Middle East in anticipation of the Bank of England’s monetary policy decision.

The blue-chip FTSE 100 index rose 0.4% to an all-time peak of 10,950.32 points by 0943, while the midcap FTSE 250 climbed 0.4%.

  • Precious metals and industrial metal miners gained 1.5% and 1.9%, respectively, tracking gains in copper prices and steady prices of bullion.
  • Aerospace and defence firms were the top sectoral gainers, up 3.6%, on a 5.6% boost from Rolls-Royce after the engineering company raised its full-year outlook far beyond market expectations.
  • Paper and packaging firm Mondi experienced a notable increase of 15.2%, positioning itself for its most significant one-day rise since March 2009, following the release of its first-half results. This performance has propelled the FTSE 350 General Industrials sector to its highest level since March 2025.
  • On the flip side, industrial support services slipped 2.5%, weighed down by a 17.3% slump in Rentokil, set for its biggest one-day loss since September 2024 after the pest control firm flagged weakness in its North America business.
  • Energy stocks gained 0.4% as Brent crude topped $90 a barrel after the U.S. The military executed strikes on numerous targets within Iran.
  • A fragmented United States. On Wednesday, the Federal Reserve opted to maintain interest rates at their current levels, despite Chairman Kevin Warsh’s firm assurance of a steadfast dedication to reducing inflation. This announcement resulted in a degree of uncertainty in the markets regarding the extent of his forthcoming actions.
  • Later on, the Bank of England will release its monetary policy statement, with markets widely anticipating that the central bank will maintain interest rates at their current level.
  • Markets are factoring in a 25-basis-point rate hike and approximately a 50% probability of a subsequent similar increase by the conclusion of 2026, as per data.