Published by Global Banking & Finance Review®
Posted on February 25, 2026
2 min readLast updated: April 2, 2026
Add as preferred source on GoogleFTSE 100 hit a record after HSBC raised a profitability target, boosting bank shares. AI disruption worries eased on Anthropic’s enterprise plug-ins. Miners advanced as metals rose; Diageo slid on a dividend cut, while Hiscox gained and Aston Martin announced job cuts.
By Tharuniyaa Lakshmi
Feb 25 (Reuters) - Britain's FTSE 100 closed at a fresh peak on Wednesday after HSBC lifted a key earnings target and miners hit new highs, as fading worries over AI’s disruption to traditional businesses lifted global sentiment.
The blue-chip FTSE 100 index closed up 1.18% at 10,806.41 points after being largely unchanged over the past two sessions, while the domestically focused mid-cap FTSE 250 gained 0.5%.
Global risk appetite improved after U.S.-based AI startup Anthropic partnered on Wednesday with several companies to develop new plug-ins, signalling that traditional businesses are adapting to AI advances rather than facing immediate disruption.
HSBC climbed 7.9% to a record high after the bank lifted its target for a key profitability metric after annual profits beat expectations.
"The bank has slimmed down to focus on fewer regions, and to pay greater attention to wealthier individuals. This strategy appears to be working as it reported a strong performance from its wealth division," said Russ Mould, investment director at AJ Bell.
Precious metal miners rose 3.8% to an all‑time high and industrial metal miners gained 3.3%, their highest level since 2008, as copper and gold prices climbed on a softer dollar [GOL/] [MET/L]. Miners have been among the FTSE 100’s top drivers over the past year following an unprecedented rally in commodity prices.
Finance minister Rachel Reeves will present new economic forecasts in Tuesday’s budget update, aiming for a quieter affair, in contrast to the three more momentous fiscal events she has overseen since taking office.
Among other shares, spirits maker Diageo fell 12.7% to the bottom of the benchmark index after new CEO Dave Lewis cut the annual forecast and dividend.
Hiscox rose 5.2% after the insurer announced a $300 million share buyback plan and reported a 5.9% rise in annual insurance contract written premium.
Aston Martin fell 2.9% after the luxury carmaker said it will cut its workforce by up to 20%, as it strives to recover from the impact of U.S. import tariffs and weak demand in China.
(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Sahal Muhammed, Elaine Hardcastle)
The article covers the FTSE 100 hitting a record high, driven by HSBC raising a key profitability target and improved sentiment as fears over rapid AI disruption eased.
HSBC lifted a core profitability goal after annual results beat expectations, sending its shares higher and supporting broader gains across UK bank stocks.
Miners rallied on stronger copper and gold prices; Diageo fell after cutting its dividend and outlook; Hiscox gained on a $300m buyback; Aston Martin said it will cut up to 20% of its workforce.
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