FTSE 100 Hits Record High Amid Financial Gains and Cooling Inflation
The FTSE 100 surged to a record high, driven by strong financial stock performances and cooling U.S. inflation data. The index's 0.7% increase coincided with hopes of reduced trade tensions and interest rate cuts. Significant gains from NatWest and WH Smith contributed to the index's success.
The UK's FTSE 100 reached unprecedented levels on Friday, concluding a stellar week for London equities. The index's rise was primarily propelled by strong financial stocks, following encouraging results from NatWest and strengthened by signs of eased inflation pressures in the U.S.
The FTSE 100 closed up 0.7%, reaching 9,645.62 points, while the FTSE 250 increased by 0.75% to 22,529.02. This boost reflects investor optimism following data suggesting that U.S. consumer prices rose less than expected, potentially heralding a cut in interest rates by the U.S. Federal Reserve.
Furthermore, anticipation of a meeting between U.S. and Chinese leaders fueled hopes of alleviating trade tensions. Meanwhile, the UK market experienced gains from companies focused domestically, with the mid-cap index achieving its most significant weekly rise in over six months due to stable UK inflation figures.
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