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FTSE 100 surges towards record high as pound hits 31-year low

Discussion in 'Market News' started by Lily, Oct 4, 2016.

  1. Lily

    Lily Forum Member

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    Index of leading shares climbs to 7,119 at midday, just shy of 7,122 record, as prospect of ‘hard Brexit’ sends sterling tumbling

    The value of Britain’s top 100 companies surged to within a few points of an all-time high on Tuesday as the stock market benefited from a plunge in the value of sterling.

    The FTSE 100 hit 7,119.16 in early afternoon trading, a rise of 1.8%, taking it within a whisker of the 7,122 record reached in April 2015. The FTSE 250 index of more domestically focused medium-sized firms also soared, climbing 2.3% to an all-time peak of 18,600.

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