The FTSE 100 rose more than 1% to above 10,691 on Wednesday, hitting another record high as softer UK inflation strengthened expectations for Bank of England rate cuts and supported equities. UK inflation slowed to 3%, the lowest since March 2025, driven by declines in petrol, airfares, food and education costs, boosting hopes for looser policy. Miners led gains as metals prices climbed, with Antofagasta surging almost 10%, and Anglo American rising more than 4%. Glencore also rose more than 4% after results beat expectations despite lower annual profit. Fresnillo and Endeavour Mining increased more than 4% each as precious metals climbed. Defence stocks also gained after strong earnings, with BAE Systems up around 4% after reporting higher revenue, orders and profit, while Babcock rose 2.5% and Rolls-Royce gained 2.4%.