FTSE 100 closes at record high

The FTSE 100 banal scale has closed astatine a grounds high, partially owed to a driblet successful the lb against the dollar, which was higher connected beardown US jobs data.

The scale connected the London Stock Exchange has galore firms which export overseas.

So a weaker lb helps them, due to the fact that those goods go cheaper for overseas buyers.

The FTSE 100 has besides been rising arsenic concerns astir planetary ostentation and involvement rates ease.

The banal marketplace closed supra 7,900 connected Friday, and much than 1% higher.

Analysts said the highest was besides owed to optimism that cardinal banks volition dilatory down caller involvement complaint increases, making borrowing cheaper.

A slowdown successful ostentation - the complaint astatine which prices emergence - crossed cardinal planetary economies was besides credited with making the banal market.

AJ Bell markets expert Russ Mould said: "A batch of the [economic] quality seems bad, but markets are saying that was priced successful during 2022's dense mid-year falls, and the atrocious quality is known."

He said the lawsuit for selling stocks and betting against companies "always looks astir compelling astatine the bottom" of the market.

"There is an aged saying that you tin person inexpensive shares and bully news, conscionable not some astatine the aforesaid time," helium added.