The UK stock market’s rise to a record high has prompted a surge in retail trading at major investment platforms. Average daily trades of FTSE 100 stocks on IG’s platform soared by 41 per cent in July, as the index rose 3.8 per cent during the month, surpassing its previous peak set in February. The London-based index, up 19.1 per cent over the past year, has continued to power ahead even as Wall Street’s S&P 500 wobbled amid a sell-off in semiconductor stocks. "Rather than viewing record highs as a reason to take profits, many investors appear to believe the rally still has further to run," said Chris Beauchamp, chief market analyst at IG.

Rising takeover interest is adding to speculation, with shares in Mitie and Rotork surging after agreed buyouts, while easy Jet rallied on a £5.7bn offer from Apollo. UK investors have not given up on chip stocks entirely, with IG data showing increased trading of Nvidia, Micron, and Intel. "The UK’s market composition is proving attractive right now as a useful 'non-tech' trade," said Anna Macdonald at Hargreaves Lansdown, citing its weighting in energy, commodities, defence, and financials.