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London's FTSE 100 hits fresh high as banks gain, gold tops $4,000
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London's FTSE 100 hits fresh high as banks gain, gold tops $4,000
Oct 8, 2025 4:43 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

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FTSE 100 up 0.6%, FTSE 250 down 0.1%

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Llyods Banking Group rises on lower motor finance scandal

bill

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Gold miners jump after metal price hits record high

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Unite Group ( UTGPF ) plunges after softer Q3 rental growth

Oct 8 (Reuters) -

Britain's FTSE 100 hit a new intraday record on Wednesday,

lifted by heavyweight financial stocks, while gold miners

advanced after bullion prices reached all-time highs.

The blue-chip FTSE 100 was up 0.6% at 9,536.39 as of

1042 GMT.

Financials led gains, with the banks index up

1.4%. Lloyds Banking Group ( LYG ) gained 2.6% after London's

financial services regulator proposed a lower-than-feared

redress package over motor finance mis-selling.

The sentiment propped up other banks, with Barclays ( BCS )

adding 1.2%. HSBC ( HSBC ) also rose 1.1% after Morgan Stanley

raised its price target on the stock.

Precious metal miners outperformed peers

after gold prices soared past $4,000 per ounce for the first

time.

Endeavour Mining ( EDVMF ) and Fresnillo rose 2.1%

and 1.5%, respectively, placing the miners among the FTSE 100's

top performers.

In contrast, real estate stocks were the biggest

drag on the mid-cap FTSE 250, which tracks more

domestically focussed companies, down 0.1%.

Unite Group ( UTGPF ) dropped 9.8% to a more than five-year

low, the biggest loser on the FTSE 250, after the student

accommodation developer reported rental growth of 4% at the end

of the third quarter, compared with a 8.2% growth a year ago.

Investors also watched trade developments as Prime Minister

Keir Starmer began a two-day visit to India and said he wanted

the trade deal with India, inked in July, implemented as soon as

"humanly possible."

The FTSE 100 rallied to record highs last week, posting new

peaks in four out of five sessions, helped by resurgent

healthcare stocks, which had lagged in the first half of the

year.

On Wednesday, they gained 0.9%, with

AstraZeneca ( AZN ) up 1%.

Among other stocks, Vertu Motors ( VTMTF ) fell 3.2% after

warning of an annual profit hit from a cyberattack at Jaguar

Land Rover, whose dealerships the motor retailer operates.

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