London's FTSE 100 index climbed 64 points to reach 10,961 on July 31, 2026, extending a run of record sessions.
The advance came as strong corporate earnings and a global market rebound lifted investor sentiment across European trading hubs.
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The benchmark's latest move follows a volatile period that saw it peak at 10,979.60 before easing slightly.
With heavy weightings in banking, energy, and mining, the UK market has attracted international capital seeking refuge from technology sell-offs in the US and Asia.
Commodity and banking stocks provided sustained support.
Financial institutions including HSBC, Barclays, Standard Chartered, Lloyds, and NatWest benefited from improved net interest margins driven by higher bond yields.
Meanwhile, energy majors BP and Shell profited from Brent crude prices exceeding $90 per barrel amid Middle Eastern tensions.
Corporate news also buoyed the index.
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J Sainsbury shares rose 6.2% after the company agreed to sell Argos to Swift Partners for at least £120 million.
NatWest gained 2.7% after raising its full-year guidance and accelerating a share buyback plan, alongside a 12p interim dividend.
Market Perspectives
Commenting on technology stocks, Gary Tan, Portfolio Manager at Allspring Global Investments, noted that "SK Hynix delivered strong results, but in today's AI market strong is no longer enough."
Russ Mould, Investment Director at AJ Bell, attributed the FTSE's resilience to its "lack of exposure to technology and AI stocks" and a series of strong corporate results from heavyweights like Standard Chartered, Reckitt Benckiser, and Rio Tinto.
Danni Hewson, Head of Financial Analysis at AJ Bell, described it as "another cracking day for London markets," with investors seeking "more grounded alternatives to mega cap AI spenders," though the index fell short of a fresh record close as sentiment shifted later in the day.
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The Bank of England held interest rates steady while assessing inflation risks, supporting expectations of continued stability for the FTSE 100 through the trading quarter.
