FTSE 100 smashes through 8,600 mark for the first time
FTSE 100 smashes through 8,600 mark for the first time
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The FTSE 100 struck a new record high after another flurry of positive earnings updates helped the index score its fourth consecutive daily rise this week. Shell, Endeavour Mining and St James’ Place all made notable gains on the index after positive updates to investors.
Stocks also performed well as yields on UK government bonds eased back further. London’s top index finished 89.07 points, or 1.04%, higher to end the day at 8,646.88. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “The footsie has cruised to a fresh all-time high, breaking past the psychologically important 8,600 mark, as investors seek shelter in its defensive qualities, amid market volatility.
“With an unpredictable President Trump back at the White House, and tariff threats left hanging, there’s more demand for assets which offer more reliable returns, and the dividend-strong FTSE 100 is coming into its own. “Even a dip back in the oil price hasn’t put energy giants BP and Shell off their stride, and the prospect for lower fuel costs has given a tailwind to easyJet’s share price.”.
The German Dax performed similarly well, striking a record high for its second consecutive session, as stocks across Europe were boosted by the European Central Bank’s move to cut interest rates again. The Cac 40 ended 0.88% higher for the day and the Dax index was up 0.43%.
