Britain's FTSE 100 ends at record high for third straight day; Barclays slides
Feb 27 (Reuters) - London's FTSE 100 climbed to a record high on Friday, boosted by heavyweight miners and defensive stocks while Barclays slumped on concerns over its exposure to collapsed UK lender Market Financial Solutions.
Shares of Barclays BARC.L fell 4.2% and Jefferies JEF.N dropped 10% after reports that they and other lenders face potential losses tied to the collapse of mortgage lender MFS, which has been placed into administration following allegations of financial irregularities.
The blue‑chip FTSE 100 .FTSE rose 0.6% to 10,910.55 points, notching a record close for the third straight day, while the mid‑cap FTSE 250 .FTMC closed up 0.2%.
The FTSE 100 index advanced 6.7% in February, its eighth monthly climb in a row and its longest monthly winning streak since 2012–2013. The index outperformed U.S. and European benchmarks this month as optimism around a potential Bank of England rate cut in March lifted sentiment.
At times, however, gains have been tempered by worries that emerging AI tools could disrupt established business models, as well as trade-related uncertainties from U.S. President Donald Trump's fresh tariffs earlier this month.
Precious‑metal miners .FTNMX551030 and industrial‑metal miners .FTNMX551020 rose as demand for gold and copper increased, with investors flocking to safe‑haven assets amid uncertainty over U.S. tariff policies and heightened tensions between the United States and Iran.
Mining stocks have been among the biggest contributors to the FTSE 100’s gains over the past year, supported by soaring metals pricing. GOL/ MET/L
Shares in drugmaker AstraZeneca AZN.L and food group Unilever ULVR.L firmed 2.9% and 2%, respectively.
Among others, shares of IAG ICAG.L dropped 7.5% after the airlines owner failed to provide profit guidance for this year and expressed concerns about potentially higher fuel prices.
Hays HAYS.L slumped 10% to the bottom of the mid-cap index after the recruiter announced the departure of CEO Dirk Hahn and slashed its dividend by 84%.
On the political front, Prime Minister Keir Starmer’s Labour Party suffered a defeat to the Green Party in a Manchester ward it had dominated for nearly a century, underscoring the fragmentation of Britain’s traditional two‑party system.
