The FTSE 100 surged to an intraday record of 10,951 points, rising as much as 0.7% or 80 points, as investors rotated away from technology equities.
The gain pushed the London benchmark above its previous peak established in February, highlighting a growing divergence between the UK's value-heavy index and the growth-oriented tech sectors dominating US and Asian exchanges.
A key index of chip manufacturers fell 7% in the session, marking a sharp reversal for a sector that had more than doubled its value since the lows triggered by the war.
The rally in London came as technology stocks faced renewed selling pressure globally, with chipmakers and software firms leading the decline.
A key index of chip manufacturers fell 7% in the session, marking a sharp reversal for a sector that had more than doubled its value since the lows triggered by the war.
The decline underscores growing investor caution regarding the sustainability of recent tech valuations.
This broad-based selloff marks a continuation of the volatility that has plagued the technology sector, with AI chip-makers in the US and Asia suffering a second day of losses.