The UK’s FTSE-100 index of leading shares has hit an all-time high.
The index achieved its highest-ever close of 7901.8 points, up 81.64 points on the day, trumping the previous all-time high set in May 2018. It recorded an all-time intra-day high of 7906.58 during today’s session.
Richard Stone, chief executive of the Association of Investment Companies industry body, said: “With headlines dominated by the cost-of-living crisis, war in Ukraine, rising interest rates and strikes, it may seem strange that the index of the largest 100 companies listed on the London Stock Exchange has set a new all-time high. This has been driven by the strong performance of oil and gas companies and banks, which dominate the FTSE-100.”
The AIC noted the FTSE Mid-250 index, which it observed is "more directly related to the fortunes of the UK economy", was "still a little way short of the levels it held in May 2018 and is some 15% below its all-time high set in 2021".
The FTSE Mid-250 closed at 20,593.46, down 21.23 points on the day.
Mr Stone said: "The FTSE-250 is more diverse and contains companies more focused on the UK. It is some way below its record highs. However, it has performed well recently and is up over 20% from the levels it dipped to last October.
“Markets are forward-looking. They tend to turn ahead of the overall economic indicators and are adding some weight to the Bank of England’s view that the UK economy might be turning a corner. We may still be heading into a recession, but markets now believe inflation has peaked and are looking ahead to a time when rates may start falling once again."
Why are you making commenting on HeraldScotland only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel