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FTSE 100 Rallies to Record High as Bank Stocks Drive Momentum
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FTSE 100 touched a new record 8,415 as Barclays and HSBC rallied 3% each and investors anticipated cooler UK inflation and strong bank earnings momentum.
London’s FTSE 100 index rose to a record 8,415 points on Saturday morning, up 0.5%, with Barclays and HSBC leading financial gains after strong Q3 revenue guidance. Investor optimism increased ahead of next week’s UK CPI data, expected to ease to 2.9% year-on-year. Analysts attributed the rally to improved bank profitability and sterling stability, suggesting monetary tightening cycles may end sooner. Energy and industrial shares also advanced, reflecting renewed confidence in the UK’s export-led growth outlook amid subdued global volatility and moderate inflationary trends.