The FTSE 100 Index is in a relentless bull run and is now hovering at its all-time high. It soared to a high of £9,575 on Wednesday, Oct. 8, up by over 26% from its lowest level in April. This article explores the top FTSE 100 shares that are driving the ongoing bull run.
Fresnillo is the top FTSE 100 stock this year
The Fresnillo share price has been in a strong bull run this year and is now trading at its all-time high. It jumped to a high of £2,370, up by 310% from its lowest level this year. This rally has brought its market capitalization to over £17 billion.
The company’s stock has been driven by the ongoing silver price surge. Silver soared to nearly $50, making it one of the top gainers in the metals industry. Its surge helped to boost its financial performance, with the adjusted revenue in the first lf jumping by 27% to $1.98 billion.
The soaring revenue coincided with lower production costs, which fell by 20% to $673 million, helped by the Mexican peso crash. As a result, the profit jumped by 297% to $467 million.
Therefore, the company will likely report strong results in the coming months now that silver has continued doing well.
Rolls-Royce share price is at a record high
Meanwhile, the Rolls-Royce stock price has jumped by over 102% this year and is now at its all-time high. This jump has brought its market capitalization to over £100 billion, making it the biggest industrial company in Europe.
The company has done well in the past few years, helped by the ongoing recovery in its key industries like civil aviation, energy, and defense. Its power business has been boosted by the ongoing demand jump in data centers.
Also, the company’s civil aviation business is doing well now that flying has fully recovered from the pandemic. Additionally, the company is benefiting from the ongoing defense spending in Europe and the United States. This spending has also benefited other FTSE 100 defense companies like Babcock International and BAE Systems.
Most importantly, its Small Modular Reactor (SMR) business is doing well after it was selected by the UK government. Analysts believe that the business will continue doing well as they compare it with Oklo, the company backed by Sam Altman.
Lloyds, Barclays, Natwest, and Standard Chartered
UK bank stocks have done well in the past few months. Lloyds share price, has soared 60% this year, while Standard Chartered, Barclays, Natwest, and HSBC have soared by over 37% this year.
UK banks have surged this year, a move that has coincided with the performance of other European banks like Commerzbank, Deutsche Bank, and Unicredit.
The banks have done well because as they continue to benefit from the relatively high interest rates by the Bank of England (BoE).
The bank has delivered two cuts, one in February and another in August, bringing the benchmark rate to 4%. Analysts expect the bank will maintain rates at the current rates now that the country’s inflation has remained at an elevated level.
The other top companies in the FTSE 100 Index are Endeavor Mining, Airtel Africa, Antofagasta, Prudential, St. James Place, and Aviva.
Most recently, some of the top companies that have done well are the likes of Anglo American, which recently announced its purchase of Teck Resources, Rentokil, AstraZeneca, and Melrose Industries.
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