FTSE's Record-Breaking Streak: GSK and Next Lead the Charge
The UK's FTSE 100 index reached a new high, driven by positive earnings forecasts from GSK and Next. GSK's stock surged, boosting the healthcare sector, while Next's profits soared, influencing the retail sector positively. The weak pound and global market rallies also contributed significantly.
In a landmark achievement, the UK's benchmark FTSE 100 index reached new heights on Wednesday, continuing its record-breaking momentum for the fifth straight session. The surge was notably driven by impressive earnings forecasts from pharmaceutical giant GSK and retail leader Next.
The blue-chip FTSE 100 closed at a 0.6% increase, marking its eighth consecutive session of gains. GSK shares soared by 6.5% following the company's uplifted 2025 sales and earnings forecasts, thanks to robust sales of its specialized HIV and oncology medicines. This uplift bolstered the healthcare index by 2.4%.
The industrial metals and mining sectors also saw gains, with Glencore's 5.6% rally after reporting increased copper output. Meanwhile, Next stocks surged 8.7%, setting a new record as it raised its annual profit guidance. A weaker pound also supported the rally, benefiting internationally-focused firms.
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