Shell and Standard Chartered drive FTSE 100 to near record high

The FTSE 100, Britain's leading stock index, experienced a positive trend on Thursday driven by strong performances from key companies like Shell and Standard Chartered. The index rose by 0.4% to reach 8,145.75 points, coming close to its all-time high of 8,199.95 points achieved earlier in the week.

Shell saw a 1% increase in its stock value following the announcement of a remarkable first-quarter profit of $7.7 billion, surpassing market expectations. This impressive result was attributed to robust oil trading activities and improved refining margins. Standard Chartered, a major player in emerging markets, witnessed a significant surge of 6.9% after reporting a 5.5% growth in pretax profit for the first quarter, exceeding analyst forecasts.

Global markets also responded positively, with Asian markets showing gains. However, European markets remained subdued as the US Federal Reserve decided to maintain interest rates at their current levels. Fed Chair Jerome Powell hinted at a possible future policy direction of either maintaining or reducing rates, rather than raising them.

Looking ahead, market analysts are now anticipating a potential rate cut by the Bank of England in September, with traders adjusting their expectations accordingly. The FTSE 250, a mid-cap index, managed to edge up by 0.2% after experiencing losses in the previous two trading sessions.

In conclusion, the FTSE 100's upward movement was fueled by strong corporate performances and positive global market sentiment, with investors closely monitoring central bank policies for future cues on interest rates.