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FTSE 100 Live: Index hits record as HSBC, St James’s stock rally

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Welcome back to the Morning Wire FTSE 100 liveblog.

Good morning and welcome back to the Morning Wire liveblog.

There’s a number of factors weighing on global markets at the moment, and yet the FTSE 100 was able to close Tuesday’s session unscathed.

It came despite President Donald Trump’s new 10 per cent tariffs coming into effect, sending some jitters across global indexes.

But by the late afternoon, London’s blue-chip index broke into the green fore finishing broadly flat.

“Despite the huge amount of uncertainty over Donald Trump’s moving tariff target, London’s markets have dusted themselves off and the FTSE 100 flirted with another record close before stopping short,” said AJ Bell head of financial analysis Danni Hewson.

And this came while fears of an AI bubble continued to swell, led by none of other than the world’s most influential banker.

JP Morgan chief Jamie Dimon this week warned of a financial crisis-style AI reckoning as he drew parallels to the late 2000s before the global economy was sent into uncertainty.

During the bank’s annual investor day on Monday, Dimon said: “There will be a cycle one day, I don’t know when [there] is going to be a cycle, I don’t know what events will cause that cycle.

“My anxiety is high over it.”

But it was traditional medical and chemical firms dragging the FTSE 100 out of the slumps on Tuesday with a seven per cent rally from Croda and 10 per cent from Convatec.

Will the London index’s old-school weighting continue to shield it from wider woes?

Here’s a few of our top stories from yesterday: