The UK FTSE 100 stock index has reached a new record closing price on Monday 22nd April 2024
The new all-time high was likely propelled by a weakening pound and reduced tensions in the Middle East. The FTSE 100 has been the laggard for many months.
The index concluded Monday at 8023 points, setting a new record and eclipsing its previous peak of 8012 from February of the preceding year.
At the close, it had risen by 1.62%, with retailers such as, Tesco, Sainsbury’s, M&S and Ocado being among the top gainers of the day.
The shares have gained from the depreciating pound since the London Stock Exchange index includes numerous companies with significant international operations.
A depreciated pound lowers the cost of exported goods for overseas buyers and boosts the value of international business transactions.
Update
On Tuesday morning 23rd April 2024 the FTSE 100 climbed to a new intraday high of: 8080
