FTSE 100 Breaches 10,625 as BP and Shell Fuel Rally
The FTSE 100 climbed over 70 points to breach 10,625 after UK inflation fell, driven by miners, defense and banking stocks. BP and Shell outperformed, joining AstraZeneca and GSK as two of the 13 largest FTSE companies trading higher at the record-high open.
1. FTSE 100 Surges to New Record High
The FTSE 100 climbed over 70 points at the opening, surpassing 10,625 for the first time as UK CPI unexpectedly fell, reinforcing expectations of a Bank of England rate cut next month. Miners, defense and banking stocks drove the broader rally.
2. Energy Giants BP and Shell Among Top Movers
BP shares outperformed the index, trading up alongside Shell as two of the 13 largest FTSE companies in positive territory at the record-high opening. The oil majors benefited from the broad energy sector rally, contributing to the index’s gains despite a lack of company-specific news.