- FTSE 100 up 0.5%, FTSE 250 up 0.2%
- Rightmove climbs on profit beat and 90 million pounds buyback
- Wizz Air slides after shareholder offloads 10 million shares
- Labour loses Manchester ward to Greens, signalling political shift
Feb 27 (Reuters) - London's FTSE 100 climbed to a fresh record high on Friday and was set for its eighth straight monthly rise, boosted by heavyweight miners as lingering tariff concerns fuelled safe-haven demand in some commodities.
The blue‑chip FTSE 100 rose 0.5% to 10,900 points as of 1022 GMT, while the mid‑cap FTSE 250 was up 0.2%, less than 2% from its 2021 peak.
Precious‑metal miners and industrial‑metal miners rose as demand for gold and copper increased, with investors flocking to safe‑haven assets amid uncertainty over U.S. tariff policies and heightened tensions between the United States and Iran.
Mining stocks have been among the biggest contributors to the FTSE 100’s gains over the past year, supported by sustained tightness in commodity markets and firm metals pricing.
The FTSE 100 is on track for its longest monthly winning streak since 2012–2013.
The index has gained 6.6% in February, outperforming U.S. and European benchmarks as optimism around a potential Bank of England rate cut in March lifted sentiment. At times, however, gains have been tempered by worries that emerging AI tools could disrupt established business models, as well as trade-related uncertainties from U.S. President Donald Trump's fresh tariffs earlier this month.
Among others, Rightmove rose 4.7% to the top of the benchmark index after the UK’s biggest property portal posted in‑line annual profit and announced a 90 million pounds share buyback.
Wizz Air slid 10.5% after major shareholder Indigo Partners sold 10 million shares at 1,250 pence apiece in a placement worth about 125 million pounds ($168.7 million).
Senior was up 18.2% after the engineering firm said it had received several takeover approaches in recent months and is considering two, with talks ongoing with an undisclosed bidder.
On the political front, Prime Minister Keir Starmer’s Labour Party suffered a defeat to the Green Party in a Manchester ward it had dominated for nearly a century, underscoring the fragmentation of Britain’s traditional two‑party system.
Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Leroy Leo
Source: Reuters