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FTSE 100 soars to record high as pound weakens

Discussion in 'Market News' started by Lily, Oct 11, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Index of leading shares on course to beat its highest close of 7,103 with rapid decline in sterling driving gains

    The FTSE 100 has hit a fresh record high, bolstered by a continuing slump in the value of the pound, as concerns mount about the UK economy after the Brexit vote.

    The index climbed about 30 points or 0.4% to 7,129.83 on Tuesday, beating the previous intraday high of 7,122 achieved in April last year and on course to beat its highest close of 7,103 achieved on the same day. The new peak came a week after the index failed to hit a new high at the last minute, as investors cashed in some of their profits.

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