FTSE 100 hits record high despite AI sell-off

Strong corporate results buoy market as investors move money away from tech and semiconductor stocks

London's FTSE 100 stock index has touched a fresh high, driven by strong corporate results as investors moved money away from tech and semiconductor stocks amid the global tech stock sell-off.

The UK's blue chip index rose as high as 10,951 points on Wednesday morning before falling back slightly, its best level since 27 February, the day before the US and Israel began attacks on Iran and sparked stock market volatility.