FTSE 100 recovers to reach another record close

Traders in LondonImage copyright
AFP

London’s leading shares recovered from early falls on Friday to reach yet another closing high.

The FTSE 100 edged up by 0.2%, or 14.74 points, to 7,210.05, a seventh consecutive record close.

The index has been benefiting from the fall in the pound against the dollar, as many of the firms are international and make their profits in dollars.

On the currency markets, the pound was down 0.8% against the dollar at $1.2313.

And against the euro it fell 0.43% to €1.1659.

On the stock market, the leading shares were defence group BAE Systems and Lloyds Banking Group.

Neil Wilson from ETX Capital pointed out that Friday’s close means the index has risen for five consecutive weeks – the best performance since the Brexit vote in June.

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