Footsie hits one other file excessive as traders pile into British blue chips

The FTSE 100 hit another record high yesterday as its best start to the year for nearly three decades gathered pace.

As investors digested corporate updates, it rose 0.4 per cent, or 40.29 points, to 10,846.70.

That took gains for the year to 9.2 per cent – putting it on course for its best opening two months since 1998. 

‘The FTSE 100 is on quite a run and drawing ever closer to the 11,000 level,’ said Dan Coatsworth, head of markets at AJ Bell.

While updates from blue-chips including Rolls-Royce and LSEG grabbed the headlines, other top-flight firms also made gains.

Kitchen supplier Howden Joinery rocketed up 10.8 per cent after

New high: The FTSE 100 rose 0.4%, or 40.29 points, to 10,846.70, taking gains for the year to 9.2% and putting it on course for its best opening two months since 1998

it beat annual profit forecasts – and announced a £100million share buyback.

Relx and Experian – both caught up in the sell-off triggered by fears over the threat of AI – each rose more than 4 per cent.

But Hikma Pharmaceuticals fell nearly 17 per cent to the lowest level in more than three years after the drugmaker forecast slower annual revenue growth.

The FTSE 250 was also on the rise – up by 0.4 per cent, or 82.11 points, to 23,719 – but still around 2 per cent below its 2021 record high.