FTSE 100: Third Consecutive Record Close
등록일 2019년 01월 07일 목요일
수정일 2017년 05월 18일 목요일

FTSE 100's bleak outlook in the immediate aftermath of the Brexit vote.

For the first time, the FTSE 100 Index has closed higher than 7,500, and unexpectedly high inflation in tandem with confidence regarding Britain's future under the Tory Government boosted stocks.

London's blue chip index during afternoon trading climbed 7,533.70 points, which marks a mid-session record.By market close, the index settled at an all-time high of 7,522.03, marking a 0.9 percent rise on the day.

This was also the FTSE 100's third consecutive, record close, and it reached 7,454.37 previously.

Markets reacted positively to indications that the Conservative Party and Theresa May might attain the majority on June 8 in the General Election.

After data showed inflation skyrocketing in April, a steady flow of investors began abandoning bonds for stocks.

London Capital Group's senior market analyst, Jasper Lawler, explained: "The UK stock market reached a new milestone today when the FTSE 100 hit 7,500 for the first time."

He also said investors appear confident regarding Britain's prospects under what is anticipated to be the largest majority for the Conservative Party since that of Margaret Thatcher.

Lawler highlighted the latest data from the Office of National Statistics (ONS) including the Consumer Price Index (CPI) to point out the relevance of the U.K.having reached its highest rate of price inflation since September 2013.

Lawler suggests that this may not be the end of FTSE 100's record-breaking market closes: "Rising inflation tends to make stocks relatively more attractive to bonds, which could make the next big hurdle for the FTSE of 8,000 more achievable."

French Cac 40 dropped 0.2 percent across Europe, and as pertains to oil markets, Brent crude prices carried over significant gains from the previous day.

This comes on the heels of Saudi and Russian energy ministers buckling down on oversupply in the market by pushing production cuts to continue through March 2018 rather than through the originally decided, rapidly approaching mark in the middle of 2017.

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