The FTSE 100 ended slightly higher on Wednesday, setting a new record high but lagging behind other major European markets due to losses in oil and gas stocks. Political uncertainty weighed on sentiment after reports suggested Health Secretary Wes Streeting was seeking to replace Prime Minister Keir Starmer, claims he firmly denied, calling the speculation “self-destructive.” Energy shares fell sharply, with BP down 1.6% and Shell off 0.7%, following a more than 3% drop in WTI crude prices. Homebuilders also struggled after a cautious update from Taylor Wimpey (-3.9) signaled ongoing weakness in the housing sector. Offsetting these declines, SSE shares soared over 16% to a record high after announcing a £2 billion share placing to fund part of its £33 billion investment program through 2030, focused on renewables and power networks.
