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FTSE 100 closes at new record high for the second consecutive day following US rate rise

FTSE 100

The FTSE 100 has closed at a new high for the second day running, on the back of Wednesday’s US interest rate rise.

London’s leading share index had little direction after an early fall of 0.2%, with some profits being taken after Thursday’s record close.

But values grew late morning, with the market registering a new intraday high at lunchtime of 7447 points. It closed Friday’s session 9 points up at 7424. Risers were mixed in terms of business sector and led by Admiral, the insurer. Traders said there was little to drag sentiment down – given it was a quiet day for corporate or economic developments.

The FTSE 100 is 20% higher over the past year, with much of that gain attributable to sterling’s weakness since the Brexit vote.

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Paul

The author Paul