<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/09/20250915_091516_zAJXE.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1152" height="720" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/09/20250915_091516_zAJXE.png"/></p>
<p>富時 100 指數今年上漲近 22%，確認了自 2020 年 3 月以來開始的強勁牛市，當時該指數跌至 4892 英鎊的低點。</p>
<p>儘管英國面臨來自美國的更高關税、更高税收和通貨膨脹以及經濟增長緩慢等重大挑戰，但其飆升至創紀錄高位。</p>
<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/FTSE-100-1.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="3574" height="2020" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/FTSE-100-1.png"/></p>
<p><em>富時 100 指數圖表 | 來源：TradingView</em></p>
<h2>富時 100 指數因商品價格上漲而上漲</h2>
<p>富時 100 指數上漲超過 20% 的一個主要原因是年內頂級商品的強勁表現。</p>
<p>該指數中的主要贏家來自商品領域。Fresnillo 的股價今年上漲了 446%，因為黃金和白銀飆升至創紀錄高位。這家墨西哥公司是全球白銀市場的最大參與者之一。</p>
<p>Endeavour Mining 的股價上漲了 170%，受益於高企的黃金價格。這家公司在非洲運營大型金礦，其礦產生產與價格上漲相吻合，表現良好。</p>
<p>與此同時，Antofagasta 的股價今年上漲了 106%，因為銅的表現達到了多年來的最佳水平。Antofagasta 是銅礦業務的最大參與者之一，去年年收入超過 66 億美元。</p>
<p>其他礦業公司如力拓、嘉能可和英美資源集團在年內也表現良好。力拓上漲了 26%，而另外兩家公司分別上漲了 15% 和 12.8%。英美資源集團在宣佈收購加拿大 Teck Resources 時成為頭條新聞。</p>
<p>閲讀更多：這就是為什麼富時 100 指數的這隻股票在 2025 年上漲了約 380%。</p>
<h2>英國銀行推動富時 100 指數上漲</h2>
<p>與此同時，英國銀行公司在年內也是表現最佳的公司之一，其表現與其他歐洲銀行如意大利聯合信貸、法國興業銀行和桑坦德銀行相似。</p>
<p>渣打集團的股價上漲了 85%，而勞埃德銀行、巴克萊銀行、國家西敏銀行和滙豐銀行分別上漲了 80%、79%、63% 和 51%。</p>
<p>英國銀行繼續上漲，因為它們受益於相對較高的通貨膨脹率，這促使英格蘭銀行維持較高的利率。</p>
<p>銀行從較高的利率中受益，因為這通常會導致更高的淨利差。此外，這些公司在年內也受益於強勁的盈利增長，得益於它們在低利率時代的成本削減。</p>
<p>最近，這些公司在 Rachel Reeves 宣佈預算後表現良好，她避免實施一些分析師和智庫所提議的意外税。</p>
<p>除了英國銀行，金融服務行業的其他公司在年內也是表現最佳的贏家。專注於新興市場的保險公司保誠上漲了 81%。聖詹姆斯廣場的股價上漲了 60%，而 Aviva、M&amp;G 和鳳凰集團的股價均上漲了超過 50%。</p>
<h2>國防承包商在強勁支出中上漲</h2>
<p>巴布科克國際的股價上漲了 147%，而羅爾斯·羅伊斯上漲了 102%，成為富時 100 指數中表現最佳的公司之一。BAE 系統公司作為該指數中的另一家頂級公司，股價上漲了 50%。</p>
<p>這些製造巨頭受益於其產品需求的上升，尤其是在歐洲。英國和德國、西班牙等其他國家在過去幾年中都增加了支出，表明美國正在收縮。</p>
<p>羅爾斯·羅伊斯的股價上漲，因為管理層在航空公司強勁需求的背景下提高了前瞻性指引。此外，它還受益於小型模塊化反應堆（SMR）業務，預計該業務將隨着時間的推移繼續增長。</p>
<p>另一方面，該指數中的主要滯後者是 Bunzl、帝亞吉歐、汽車交易集團、Mondial 和倫敦證券交易所集團。這些公司的股價今年均下跌超過 20%。</p>
<p>本文首發於 Invezz，標題為《這就是為什麼富時 100 指數在 2025 年上漲了約 22%》。</p>

渣打集團

<p>FTSE 100 指數在 2025 年上漲近 22%，標誌着自 2020 年 3 月以來的強勁牛市。主要驅動因素包括高商品價格，Fresnillo 的股票飆升 446%，Endeavour Mining 上漲 170%。英國銀行表現良好，受益於更高的利率，渣打銀行上漲 85%。由於需求增加，防務承包商如 Babcock International 和 Rolls-Royce 也獲得了顯著收益。然而，一些公司，包括 Bunzl 和 Diageo，經歷了超過 20% 的下跌</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/09/20250915_091516_zAJXE.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/09/20250915_091516_zAJXE.png"/></p>
<p>The FTSE 100 Index jumped by nearly 22% this year, confirming a strong bull run that started in March 2020 when it crashed to a low of £4,892.</p>
<div class="lb-trans"><p>富時 100 指數今年上漲近 22%，確認了自 2020 年 3 月以來開始的強勁牛市，當時該指數跌至 4892 英鎊的低點。</p>
</div><p>Its surge to a record high happened even as the UK faced major challenges of higher tariffs from the United States, higher taxes and inflation, and slow economic growth.</p>
<div class="lb-trans"><p>儘管英國面臨來自美國的更高關税、更高税收和通貨膨脹以及經濟增長緩慢等重大挑戰，但其飆升至創紀錄高位。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/FTSE-100-1.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/12/FTSE-100-1.png"/></p>
<p><em>FTSE 100 Index chart | Source: TradingView</em></p>
<div class="lb-trans"><p><em>富時 100 指數圖表 | 來源：TradingView</em></p>
</div><h2>FTSE 100 Index rally boosted by higher commodity prices</h2>
<div class="lb-trans"><h2>富時 100 指數因商品價格上漲而上漲</h2>
</div><p>One main reason why the blue-chip FTSE 100 Index jumped by over 20% was the strong performance of top commodities during the year.</p>
<div class="lb-trans"><p>富時 100 指數上漲超過 20% 的一個主要原因是年內頂級商品的強勁表現。</p>
</div><p>The top gainers in the index were in the commodity sector. Fresnillo’s stockprice jumped by 446% this year as gold and silver jumped to their record highs. The Mexican company is one of the biggest players in the silver market globally.</p>
<div class="lb-trans"><p>該指數中的主要贏家來自商品領域。Fresnillo 的股價今年上漲了 446%，因為黃金和白銀飆升至創紀錄高位。這家墨西哥公司是全球白銀市場的最大參與者之一。</p>
</div><p>Endeavour Mining stock rose by 170% as it benefited from the elevated gold prices. The company, which operates large gold mines in Africa, continued doing well as its mining production coincided with the rising prices.</p>
<div class="lb-trans"><p>Endeavour Mining 的股價上漲了 170%，受益於高企的黃金價格。這家公司在非洲運營大型金礦，其礦產生產與價格上漲相吻合，表現良好。</p>
</div><p>Meanwhile, Antofagasta’s share price jumped by 106% this year as copper experienced its best performance in years. Antofagasta is one of the biggest players in the copper mining business, delivering over $6.6 billion in annual revenue last year.</p>
<div class="lb-trans"><p>與此同時，Antofagasta 的股價今年上漲了 106%，因為銅的表現達到了多年來的最佳水平。Antofagasta 是銅礦業務的最大參與者之一，去年年收入超過 66 億美元。</p>
</div><p>Other mining companies like Rio Tinto, Glencore, and Anglo American were also in the green during the year. RIO rose by 26%, while the other two jumped by 15% and 12.8%, respectively. Anglo American made headlines when it announced that it would acquire Canada’s Teck Resources.</p>
<div class="lb-trans"><p>其他礦業公司如力拓、嘉能可和英美資源集團在年內也表現良好。力拓上漲了 26%，而另外兩家公司分別上漲了 15% 和 12.8%。英美資源集團在宣佈收購加拿大 Teck Resources 時成為頭條新聞。</p>
</div><p>READ MORE: Here’s why this FTSE 100 Index stock jumped ~380% in 2025</p>
<div class="lb-trans"><p>閲讀更多：這就是為什麼富時 100 指數的這隻股票在 2025 年上漲了約 380%。</p>
</div><h2>UK banks contributed to the FTSE 100 surge</h2>
<div class="lb-trans"><h2>英國銀行推動富時 100 指數上漲</h2>
</div><p>Meanwhile, UK banking companies were also among the best performers during the year, a performance that mirrored that of other European banks like Unicredit, Société Générale, and Banco Santander.</p>
<div class="lb-trans"><p>與此同時，英國銀行公司在年內也是表現最佳的公司之一，其表現與其他歐洲銀行如意大利聯合信貸、法國興業銀行和桑坦德銀行相似。</p>
</div><p>Standard Chartered stock jumped by 85%, while Lloyds, Barclays, NatWest, and HSBC rose by 80%, 79%, 63%, and 51%, respectively.</p>
<div class="lb-trans"><p>渣打集團的股價上漲了 85%，而勞埃德銀行、巴克萊銀行、國家西敏銀行和滙豐銀行分別上漲了 80%、79%、63% 和 51%。</p>
</div><p>UK banks continued rising as they benefited from the relatively higher inflation rate, which pushed the Bank of England to maintain higher interest rates for longer.</p>
<div class="lb-trans"><p>英國銀行繼續上漲，因為它們受益於相對較高的通貨膨脹率，這促使英格蘭銀行維持較高的利率。</p>
</div><p>Banks benefit from higher interest rates because they normally lead to higher net interest margin. Additionally, the companies benefited from the strong earnings growth during the year, helped by their cost cuts during the low-interest rate era.</p>
<div class="lb-trans"><p>銀行從較高的利率中受益，因為這通常會導致更高的淨利差。此外，這些公司在年內也受益於強勁的盈利增長，得益於它們在低利率時代的成本削減。</p>
</div><p>Most recently, the companies did well after Rachel Reeves announced her budget in which she avoided implementing windfall taxes as some analysts and think tanks had proposed.</p>
<div class="lb-trans"><p>最近，這些公司在 Rachel Reeves 宣佈預算後表現良好，她避免實施一些分析師和智庫所提議的意外税。</p>
</div><p>In addition to UK banks, other companies in the financial services industry were among the top gainers during the year. Prudential, an emerging market-focused insurance company, rose by 81%. St. James Place stock rose by 60%, while Aviva, M&amp;G, and Phoenix Group rose by over 50%.</p>
<div class="lb-trans"><p>除了英國銀行，金融服務行業的其他公司在年內也是表現最佳的贏家。專注於新興市場的保險公司保誠上漲了 81%。聖詹姆斯廣場的股價上漲了 60%，而 Aviva、M&amp;G 和鳳凰集團的股價均上漲了超過 50%。</p>
</div><h2>Defense contractors jumped amid resilient spending</h2>
<div class="lb-trans"><h2>國防承包商在強勁支出中上漲</h2>
</div><p>Babcock International’s stock price rose by 147%, while Rolls-Royce jumped by 102%, making some of the best-performing companies in the FTSE 100 Index. BAE Systems, another top company in the index, rose by 50%.</p>
<div class="lb-trans"><p>巴布科克國際的股價上漲了 147%，而羅爾斯·羅伊斯上漲了 102%，成為富時 100 指數中表現最佳的公司之一。BAE 系統公司作為該指數中的另一家頂級公司，股價上漲了 50%。</p>
</div><p>These manufacturing giants benefited as demand for their products rose, essentially in Europe. The UK and other countries like Germany and Spain have all boosted their spending in the past few years amid signs that the US was pulling back.</p>
<div class="lb-trans"><p>這些製造巨頭受益於其產品需求的上升，尤其是在歐洲。英國和德國、西班牙等其他國家在過去幾年中都增加了支出，表明美國正在收縮。</p>
</div><p>Rolls-Royce share price rose as the management boosted the forward guidance amid strong demand from its airline companies. Also, it benefited from the Small Modular Reactor (SMR) business, which is expected to continue growing over time.</p>
<div class="lb-trans"><p>羅爾斯·羅伊斯的股價上漲，因為管理層在航空公司強勁需求的背景下提高了前瞻性指引。此外，它還受益於小型模塊化反應堆（SMR）業務，預計該業務將隨着時間的推移繼續增長。</p>
</div><p>On the other hand, the top laggards in the index were companies like Bunzl, Diageo, Auto Trader Group, Mondial, and London Stock Exchange Group. All these companies dropped by over 20% this year.</p>
<div class="lb-trans"><p>另一方面，該指數中的主要滯後者是 Bunzl、帝亞吉歐、汽車交易集團、Mondial 和倫敦證券交易所集團。這些公司的股價今年均下跌超過 20%。</p>
</div><p>The post Here’s why the FTSE 100 Index jumped by ~22% in 2025 appeared first on Invezz</p>
<div class="lb-trans"><p>本文首發於 Invezz，標題為《這就是為什麼富時 100 指數在 2025 年上漲了約 22%》。</p>
</div>

以下是 2025 年富時 100 指數上漲約 22% 的原因