2026.02.1816:52:06UTC+00FTSE 100 Climbs to New High

The FTSE 100 climbed more than 1% to above 10,691 on Wednesday, setting another record high as softer UK inflation bolstered expectations of Bank of England rate cuts and underpinned equities. UK inflation eased to 3%, its lowest level since March 2025, helped by falling petrol prices, airfares, and food and education costs, reinforcing hopes for a looser monetary policy stance. Miners led the advance as metal prices strengthened: Antofagasta jumped nearly 10%, while Anglo American gained more than 4%. Glencore also added over 4% after posting results that beat expectations despite a year-on-year drop in profit. Precious metals producers Fresnillo and Endeavour Mining each rose more than 4% as bullion prices moved higher. Defence stocks were another bright spot following robust earnings updates: BAE Systems advanced around 4% after reporting growth in revenue, orders and profit, while Babcock rose 2.5% and Rolls-Royce added 2.4%.