FTSE 100 Live: Index Hits Record High as SSE Surges on £33 Billion Investment Plan

The FTSE 100 climbed above the 9,900 mark in early Wednesday trading, up 20 points at 9,928, setting a new record intraday high, driven by gains in energy and defence stocks. Investor optimism grew following strong global cues and major corporate updates from leading UK firms.

Top Gainers and Losers

SSE led the rally with its shares soaring 11.8% after unveiling a £33 billion, five-year investment plan aimed at accelerating the UK’s clean energy and infrastructure transition. 

Experian rose 2.33% to £3,560, Burberry gained 2.28% to £1,232.50, and Games Workshop Group added 1.23% to £15,590, reflecting renewed investor appetite for consumer and data-driven sectors.

Other gainers include Rio Tinto, gaining 1.22% to £5,389, and Fresnillo up by 1.22% to £2,330, both benefiting from higher commodity prices and improved metal demand outlooks. 

HSBC Holdings rose 1.13% to £1,111.80 after stronger trading in its UK and Asia divisions.

On the downside, Hiscox Ltd fell 1.93% to £1,369, Berkeley Group Holdings dropped 1.70% to £4,038, and Compass Group declined 1.11% to £2,499, as investors booked profits. 

DCC and InterContinental Hotels Group also traded lower by 1.14% and 0.30% respectively, following cautious corporate commentary.

Corporate Highlights

SSE dominated headlines after revealing a £33 billion investment plan. It plans to allocate £27 billion toward regulated UK energy infrastructure and £6 billion in renewables and system flexibility projects by 2030. 

The energy group reported half-year pre-tax profits of £521.5 million, down 28% YoY, consistent with seasonality, but reaffirmed full-year guidance.

BAE Systems maintained its annual outlook, noting strong order intake of £27 billion so far this year and no material impact from the ongoing US government shutdown.

Taylor Wimpey reported softer housing demand ahead of the UK Budget, citing a decline in its private sales rate to 0.63 homes per outlet per week from 0.71 a year earlier. 

Its order book fell slightly to 7,253 homes, valued at £2.1 billion, compared with £2.2 billion last year.

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Global Market and Commodity Trends

On Wall Street, the Dow Jones Industrial Average climbed 1.2% to a record high, while the S&P 500 added 0.2%. The Nasdaq Composite eased 0.3% after Monday’s rally.

In commodities, gold prices slipped to $4,108 per ounce after four straight days of gains, while Brent Crude traded at $64.92 per barrel, reflecting modest consolidation amid stable global demand.