FTSE 100 Soars to New Heights Amid HSBC's Optimistic Outlook

On Tuesday, the UK's FTSE 100 soared to an unprecedented high, bolstered by HSBC's favorable income projections following its strategic acquisition of Hang Seng Bank in Hong Kong, despite substantial legal charges impacting quarterly profits.

As the FTSE 100 advanced by 0.3% to 9,677.87 points, the mid-cap FTSE 250 index saw a slight decrease of 0.4%. The global stock momentum eased but maintained positive sentiment due to optimism about a US-China trade agreement and anticipation of major tech earnings on Wall Street.

Attention is also focused on upcoming central bank decisions, including actions from the US Federal Reserve and the European Central Bank. Meanwhile, UK retailers cut October prices the most in five years, aiding households. Finance minister Rachel Reeves committed to reducing living costs in her budget announcement next month, reflecting a cautiously optimistic economic outlook.