05.11.202516:58:48UTC+00FTSE 100 Rebounds to Fresh Record

The FTSE 100 saw an uptick of over 0.5% on Wednesday, reaching a new all-time high of 4,777. This came as investor confidence was restored following the previous day's AI-triggered market downturn. The index, which relies heavily on sectors such as energy, finance, and consumer goods, remained largely unaffected by tech sector fluctuations. This resilience was reflected in the performance of several blue-chip stocks; HSBC increased by over 1%, Shell rose by 1%, BP appreciated by 1.7%, and British American Tobacco advanced by 2%. Marks & Spencer remained steady, with its results clouded by a recent cyberattack described as "noisy," while Barratt Developments gained over 1%, despite some wariness surrounding the upcoming budget. Both Wetherspoons and Barratt have remarked on the ongoing fragility in business sentiment ahead of fiscal policy announcements. All eyes are now on the Bank of England's meeting on Thursday, where it is widely anticipated that interest rates will remain unchanged, though a few speculate there may be an unexpected rate cut.