The London stock market continued its record-breaking start to the year as global tensions eased and the UK returned to growth – albeit weak.
The FTSE 100 passed 10,200 for the first time, up 54.59 points at 10,238.94 – taking its gains for the year so far to 2.9 per cent. And the FTSE 250 gained 322.67 points to hit a four-year high of 23,280.
It is a better barometer of the health of the UK than the blue-chip index as it is stuffed full of domestic, rather than international, stocks and has trailed the FTSE 100 of late.
Meanwhile, the economy grew 0.3 per cent in November. Chris Beauchamp, market analyst at IG, said ‘it’s not often we get good news on the economy’ but that the latest figures ‘have done just that’.
‘The news is welcome for the Government but also for the FTSE 250. More such figures could provide the rationale for further inflows into the index.’
Neil Wilson, strategist at Saxo, noted the recovery was in part due to people ‘spending a lot on accounting and tax advice ahead of the Budget’.
The FTSE 100 passed 10,200 for the first time – taking its gains for the year so far to 2.9% while the FTSE 250 gained 322.67 points to hit a four-year high of 23,280
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