The FTSE 100 surged to a new all-time high of 8,975 points, driven by a rally in mining and defense stocks and fueled by investor skepticism over Donald Trump’s latest tariff threats. Confidence in the resilience of global trade helped power the blue-chip index higher.
Commodities were key to the rise. Copper and gold prices climbed, lifting shares in top mining firms. Anglo American, Rio Tinto, and Glencore led the gains, rising nearly 4% each.
Investors appear to be taking a relaxed view of escalating trade tensions. Despite Trump’s announcement of new tariffs set to start in August, the market interpreted his comments as largely performative, especially given his track record of delaying or canceling such measures.
The rally comes as part of a broader global market upswing. Germany’s DAX also hit record highs, bolstered by increased government spending plans.
FTSE 100 Breaks Records Amid Commodity Boom and Tariff Doubts
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