UK Stocks Set for Another Record

The FTSE 100 edged higher toward 8,350 on Friday afternoon, on track for another record close, as investors welcomed remarks from Fed Chair Powell at Jackson Hole that signaled possible rate cuts.

Powell suggested the labor market could benefit from lower rates, despite ongoing concerns over inflation due to trade tariffs.

Banks led the gains, underpinned by a nearly 4% surge in Standard Chartered following a favourable filing from the US Department of Justice in a long-running civil case involving allegations of sanctions breaches.

Other top advancers included Pershing Square Holdings, Airtel Africa and Hikma Pharmaceuticals.

On the flip side, Rightmove, Anglo American, Coca-Cola and Prudential posted the biggest losses. shedding between 0.8% and 1.1%