06.08.202515:48:47UTC+00FTSE 100 Rises to New Record

The FTSE 100 reached a new peak on Wednesday, buoyed by robust earnings reports from insurance companies and gains among leading stocks. Hiscox shares surged over 8.5% following its release of better-than-expected first-half profits. CEO Aki Hussain noted a commendable 14.5% operating return on tangible equity. In other major stocks, HSBC experienced a rise of nearly 1%, while energy giants Shell and BP saw increases of 1.5% and 3.2%, respectively. Conversely, Glencore fell nearly 5% after deciding against a U.S. listing, stating it wouldn't enhance value. The company also missed first-half earnings forecasts due to diminished coal prices and reduced copper output resulting from operational challenges. Legal & General declined by almost 2%, as strong performance in retirement and retail sectors was offset by weaker results in asset management and a softened solvency ratio. Coca-Cola HBC plummeted nearly 7%, with its performance seen as driven by foreign exchange factors rather than operational strength.