FTSE 100 Hits Record High Amid Global Stock Rally

Britain's FTSE 100 marked a fresh all-time high this Friday, continuing its upward trend for the fourth consecutive session, as optimism spread across global markets following hints from U.S. Federal Reserve Chair Jerome Powell of a potential rate cut.

The FTSE 100 index concluded the week with a 0.2% climb at 9,321.4, benefitting from a shift away from technology stocks which caused recent selloffs on Wall Street. The index has boasted a 14% increase this year, hitting over 9,300 points.

Investors worldwide responded positively to Powell's remarks at the Jackson Hole Symposium, where he indicated a rate cut could be forthcoming at the Federal Reserve's meeting in September. Banking stocks in London led the charge, with Standard Chartered jumping over 4% following a positive ruling from the U.S. Department of Justice.

Homebuilders, luxury goods makers, and automobile sectors each made significant gains, while the energy sector saw a modest rise after a slight uptick in oil prices. British consumer confidence improved slightly following the Bank of England's recent rate cut, though concerns about inflation and potential tax hikes linger.