LONDON: London’s FTSE 100 climbed to a record high on Friday, boosted by heavyweight miners and defensive stocks while Barclays slumped on concerns over its exposure to collapsed UK lender Market Financial Solutions. Shares of Barclays fell 4.2 percent and Jefferies dropped 10 percent after reports that they and other lenders face potential losses tied to the collapse of mortgage lender MFS, which has been placed into administration following allegations of financial irregularities.
The blue-chip FTSE 100 rose 0.6 percent to 10,910.55 points, notching a record close for the third straight day, while the mid-cap FTSE 250 closed up 0.2 percent.
The FTSE 100 index advanced 6.7 percent in February, its eighth monthly climb in a row and its longest monthly winning streak since 2012–2013. The index outperformed US and European benchmarks this month 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 US President Donald Trump’s fresh tariffs earlier this month.
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