Equities gain on the week but investors reassess interest rate outlook after unexpected labour market acceleration
(Bloomberg) -- For the first time since 2018, Britain’s blue-chip stocks have closed at an all-time high.Most Read from BloombergWhat You Need to Know About the Suspected Chinese Spy Balloon Floating Over the USGeorge Santos Produced Broadway’s Ill-Fated Spider-Man Musical. At Least, He Claims He DidUS Postpones Blinken China Visit in Uproar Over Alleged Spy BalloonAdani’s $108 Billion Crisis Shakes Investors’ Faith in IndiaMerck Covid Drug Linked to New Virus Mutations, Study SaysThe FTSE 100 I
The UK’s FTSE 100 hit an all-time high on Friday, as the blue-chip index dominated by multinational companies overcame the drag of a domestic economy headed for recession. The FTSE added as much as 1.1 per cent on the day to trade at 7906.58, eclipsing its previous peak in May 2018, before closing at 7902. After ending 2022 up almost 1 per cent, the best-performing developed market index in local currency terms, the FTSE 100 has risen 6.1 per cent in 2023.