FTSE 100 Hits Record High Amid HSBC Surge and Market Anticipation

The UK's FTSE 100 soared to an all-time high, spurred by HSBC's promising financial outlook, amidst investor anticipation for major economic events this week. The FTSE 100 climbed 0.4% to close at a historic peak of 9,696.74, while the FTSE 250 edged down by 0.1%.

HSBC experienced a 4.6% increase, the most significant surge in six months, following its upbeat income projection and strategic shift towards growth, including the acquisition of Hang Seng Bank in Hong Kong. This rise came despite a third-quarter profit slump of $1.4 billion in legal charges.

Market attention now turns to forthcoming Wall Street earnings from Big Tech and interest rate decisions from the Federal Reserve, European Central Bank, and other major banks. Concurrently, UK retailers have reduced prices, benefiting consumers, while Finance Minister Rachel Reeves aims to lower living costs through budget reforms.