After climbing 1.03pc to 7,900.41 today, the FTSE 100 closed at a record-breaking high. This means that the blue-chip index broke the May 22nd, 2018 record of 7,877.45.
The FTSE 100 has broken its all-time high as a slump in the pound gave a boost to the internationally-focused index.
After rising more than 1pc, the group of Britain’s 100 largest listed companies was set to close at 7,898.46. It had broken its intraday record to reach 7,905.52.
The previous record was 7,903.50 set on May 22, 2018.
The market ended at 7844.07 on the same day, marking its highest-ever close to a trading day.
The FTSE 100 has risen 4.5pc this year.
The pound has lost as much as 1.1pc today after the US dollar rallied on stronger-than-expected jobs data.
In minutes, the pound plunged almost 1pc against the dollar after US data showed that the economy added jobs at an impressive pace last month. This was far more than analysts had expected.
Sterling fell as high as 1.1pc and is now heading towards $1.21. The Labor Department’s report on nonfarm payrolls revealed that the economy added 517,000 jobs to January, as opposed to the estimate of 185,000.
This move raises concerns about the Federal Reserve’s ability to keep interest rates higher longer in its fight against inflation.
The January wage data showed that average hourly earnings rose by 4.4 per cent last month compared to a year ago. This is slower than December’s 4.8 per cent year-over-year gain.
Wages rose by 0.3 per cent from December to January, below the 0.4pc gain in the previous month.
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