FTSE 100 Soars Amidst Housing and Energy Boosts
The FTSE 100 hit record highs due to surged interest in home builders and energy stocks, offsetting declines in wealth managers concerned about AI disruptions. The increase was fueled by potential government support for homebuyers and rising oil prices. Meanwhile, U.S. payroll data reflected economic strength.
On Wednesday, Britain's FTSE 100 reached unprecedented levels as the index climbed by 1.1%, closing at a record 10,472.11 points. This rise was primarily supported by strong performances in the housing and energy sectors.
The housing market received a boost from speculation that the Labour government may introduce a fresh iteration of the Help to Buy scheme. Consequently, Vistry Group, Bellway, and Persimmon saw stock increases between 4.2% and 5.4%.
Despite worries about AI disrupting wealth management, energy stocks ascended due to oil supply concerns. BP and Shell advanced, while wealth managers saw declines due to competition fears. Additionally, U.S. payroll data signaled a robust economic start to 2026.
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