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FTSE 100 index surges to an all-time record of 7,000 | |
(about 2 months later) | |
(Close): London's FTSE 100 index of the largest publicly traded companies closed at an all-time high of 7,022.51 points, up 0.86%. | (Close): London's FTSE 100 index of the largest publicly traded companies closed at an all-time high of 7,022.51 points, up 0.86%. |
The record FTSE 100 value capped five days of gains, while the pound also regained lost ground against the dollar. | The record FTSE 100 value capped five days of gains, while the pound also regained lost ground against the dollar. |
Shares in building suppliers CRH jumped 5% on news that the proposed merger between Lafarge and Holcim is back on. | Shares in building suppliers CRH jumped 5% on news that the proposed merger between Lafarge and Holcim is back on. |
A deal puts CRH back in the running to pick up certain Lafarge assets. | A deal puts CRH back in the running to pick up certain Lafarge assets. |
On the currency markets, the pound was up 1.41% against the dollar at $1.4964, but down 0.38% against the euro at €1.3794. | On the currency markets, the pound was up 1.41% against the dollar at $1.4964, but down 0.38% against the euro at €1.3794. |
The pound's renewed rise against the dollar came after markets shrugged off "personal" remarks by a Bank of England official that interest rates could fall as well as rise. | The pound's renewed rise against the dollar came after markets shrugged off "personal" remarks by a Bank of England official that interest rates could fall as well as rise. |
"The market has been buoyed by dovish comments from the US central bank, better than expected economic data from the eurozone and a UK Budget which reined in spending cuts," said Laith Khalaf, a senior analyst at stockbroker Hargreaves Lansdown. | "The market has been buoyed by dovish comments from the US central bank, better than expected economic data from the eurozone and a UK Budget which reined in spending cuts," said Laith Khalaf, a senior analyst at stockbroker Hargreaves Lansdown. |
"The FTSE 100 was finally carried over the 7,000 line by the mining companies, who once again underlined their importance to the health of the headline UK index." | "The FTSE 100 was finally carried over the 7,000 line by the mining companies, who once again underlined their importance to the health of the headline UK index." |
Metals firm Fresnillo gained 4% after Thursday's 5% gain. | Metals firm Fresnillo gained 4% after Thursday's 5% gain. |
CRH, Ireland's biggest building suppliers, was the biggest gainer on news that the Lafarge cement merger is back on. | CRH, Ireland's biggest building suppliers, was the biggest gainer on news that the Lafarge cement merger is back on. |
The Cac 40 in Paris gained 1% to 5,087.49 points and Frankfurt's Dax 30 advanced 1.18% to 12,039.37 points. | The Cac 40 in Paris gained 1% to 5,087.49 points and Frankfurt's Dax 30 advanced 1.18% to 12,039.37 points. |
European stock markets have seen inflated valuations following a bond-buying programme from the European Central Bank, aimed at boosting growth in the European economy. | European stock markets have seen inflated valuations following a bond-buying programme from the European Central Bank, aimed at boosting growth in the European economy. |
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