The FTSE 100 Finish Line - Friday, Feb. 27

Photo by Jamie Street on Unsplash

London's FTSE 100 surged to a new record high on Friday, marking its eighth consecutive monthly gain, driven by strong performances from heavyweight mining stocks. Safe-haven demand for commodities like gold and copper intensified amid ongoing concerns over U.S. tariff policies and rising tensions between the United States and Iran, boosting both precious and industrial metal miners. On the political front, Prime Minister Keir Starmer’s Labour Party suffered a significant blow, losing a Manchester ward—considered a Labour bastion for nearly a century—to the Green Party. This defeat underscores the increasing fragmentation of Britain’s traditional two-party system.

Mining stocks have been a key driver of the FTSE 100’s stellar performance over the past year, supported by tight commodity markets and elevated metals prices. February alone delivered a robust 6.6% gain, positioning the index for its longest monthly winning streak since 2012-2013. The FTSE 100 has outperformed its U.S. and European counterparts, buoyed by hopes of a potential Bank of England rate cut in March. However, occasional concerns about the disruptive potential of emerging AI technologies and uncertainties linked to President Donald Trump’s recent tariffs have tempered gains.

In corporate developments, Rightmove led the benchmark index with a 4.7% rise after the UK’s largest property portal announced annual profits in line with expectations and unveiled a £90 million share buyback programme. Conversely, Wizz Air plummeted 10.5% after major shareholder Indigo Partners sold 10 million shares at 1,250 pence each, in a transaction valued at approximately £125 million ($168.7 million). Meanwhile, engineering firm Senior surged 18.2% following the disclosure of multiple takeover offers, with the company currently in discussions with two potential bidders.

TECHNICAL & TRADE VIEW - FTSE100

• Daily VWAP Bullish

• Weekly VWAP Bullish

• Above 10750 Target 11000 

• Below 10650 Target 10550