Finance
FTSE 100 hits one-week high on banks, mining boost
Published by Global Banking and Finance Review
Posted on February 26, 2025
2 min readLast updated: January 25, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on February 26, 2025
2 min readLast updated: January 25, 2026
FTSE 100 hit a one-week high with gains in banks and mining stocks. Burberry's rating upgrade and copper price hikes also influenced the market.
(Reuters) -Britain's FTSE 100 touched one-week highs on Wednesday, led by gains in banks and mining stocks, while luxury retailer Burberry boosted the midcap index following a rating upgrade.
The blue-chip FTSE 100 rose 0.7% to its highest since February 19.
Banks were the biggest boost to the index, with mortgage lender Lloyds gaining 4.6% after at least two brokerages raised their price target on the stock.
Metro Bank rose 4.3% after the lender said it had signed an agreement to sell a portfolio of about 584 million pounds ($739 million) of unsecured personal loans.
UK-listed miners advanced, tracking copper prices, after U.S. President Donald Trump moved closer to imposing tariffs on copper imports, while a power outage in top producer Chile also supported the wider market. [MET/L]
Glencore gained 2%, Anglo American rose 3.5% and Antofagasta was up 3.6%.
ConvaTec Group gained 4.9% after the medical equipment maker reported higher annual profit.
Global stocks rebounded, with European shares touching a record high, after reports that the U.S. and Ukraine agreed on terms of a draft minerals deal.
Investors are awaiting artificial intelligence chip bellwether Nvidia's results later in the day to see if sky-high valuations in the technology sector are justified.
The midcap FTSE 250 also gained 0.7%.
Burberry rose 7.8% after brokerage Kepler Cheuvreux raised the luxury retailer's rating to "buy" from "hold" and said it expects a slow recovery for the sector in the second half of the year.
Pets at Home surged 7.7% to a three-month high on takeover speculation.
On the flip side, Aston Martin plunged 12% after the luxury automaker announced a second delay in launching its first battery electric vehicle and said it plans to reduce its global workforce by 5%.
(Reporting by Sanchayaita Roy and Ragini Mathur in Bengaluru; Editing by Shailesh Kuber and Richard Chang)
The article discusses the FTSE 100 reaching a one-week high driven by gains in banks and mining stocks.
Lloyds, Metro Bank, Glencore, Anglo American, Antofagasta, and Burberry were highlighted.
Aston Martin's stock fell due to delays in launching its first battery electric vehicle and workforce reductions.
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