- The FTSE 100 closed 191 points higher at 10,829.21, its strongest day since late September, with HSBC and Standard Chartered each rising 5% and NatWest, Lloyds and Barclays adding to the gains, while Wall Street joined in after the bell with the Dow jumping 2.1% as investors concluded that a divided Washington suits markets just fine.
- M&S rose 6.4% to 424p after more than doubling its adjusted half-year profit, with food and Ocado Retail delivering strong numbers, though brokers were split on how quickly the clothing division's recovery would gather pace.
- Weir Group, the engineering company, slid 7.7% after a trading update that left investors cold, sitting near the bottom of the index while the rest of the market was busy celebrating.
- Metro Bank jumped 12% after the challenger bank reaffirmed its profitability targets, with a surge in business lending pointing to improving momentum at the high street lender.
- UBS raised its global AI capital spending forecast to $1 trillion in 2026, but told investors to spread their bets rather than concentrate on a handful of names, warning that the cycle is maturing and that the gap between winners and losers is likely to widen as markets start demanding evidence that all the investment is actually generating returns.
That's your five for Wednesday
