By Sukriti Gupta (Reuters) -London's main stock indexes hit a fresh record high on Wednesday, helped by positive corporate updates, while a U.S.-Japan trade deal also boosted global sentiment. The
FTSE 100 Hits All-Time High as Investors React to Earnings and Trade Deal
(Reuters) -Britain's FTSE 100 rose on Wednesday to a record close for a third straight session, helped by positive corporate updates, while a U.S.-Japan trade deal also boosted global sentiment.
The benchmark FTSE 100 closed up 0.4% at 9,061.49 points. The domestically oriented midcap FTSE 250 also gained 0.4%.
U.S. President Donald Trump struck a trade deal with Japan, lowering tariffs on auto imports and sparing Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans.
The UK's automobiles and parts index rose 2.5%, tracking strength in Asian rivals. Aston Martin and Dowlais Group gained 8.1% and 1.2%, respectively.
Healthcare stocks rose 2.5%, with AstraZeneca and GSK gaining 3.1% and 1.8% respectively.
Medical equipment and services rose 1.5%, with a boost from Smith+Nephew, up 1.8%.
Media stocks advanced 2.2%, boosted by Informa's 4.9% rise after the events and academic publishing group raised its annual underlying revenue growth forecast.
Conversely, construction and materials stocks lost 1.5%, with Breedon Group down 7.5%, after the company forecast annual results at the low end of market expectations.
In company news, Alpha Group hit a record high and was last up 25.6% after U.S. payments firm Corpay said it would buy the financial services provider in a $2.2 billion (1.6 billion pounds) cash deal.
Hochschild Mining rose 7.6% on stronger-than-expected quarterly silver output.
J D Wetherspoon gained 1.9% after the pub group reported a rise in sales in recent weeks since May.
British stocks have rallied this year, pushing the FTSE 100 to all-time highs in recent weeks, as hopes of interest rate cuts, optimism over the UK-U.S. trade deal and a surge in commodity prices lifted sentiment.
Traders are currently pricing in an 89% chance of a 25 basis point BoE cut next month, according to data compiled by LSEG.
This week, attention is on the UK flash Purchasing Managers' Index for July, due on Thursday, and retail sales data for June on Friday.
Meanwhile, India and Britain will sign a free trade agreement on Thursday during Indian Prime Minister Narendra Modi's visit to Britain, officials said.
(Reporting by Sukriti Gupta; Editing by Vijay Kishore)
