FTSE 100 hits new closing high despite weak UK growth data
Today’s record close brings the FTSE 100’s gains to nearly 9% for the year, putting it ahead of the US market’s performance.
The FTSE 100 closed at a new record high of 8,884 points on Thursday, surpassing its previous closing peak of 8,871 set on 3 March.
The rally came despite downbeat economic data showing the UK economy contracted in April, as higher taxes and tariffs weighed on growth.
This latest milestone caps a strong two-month recovery in the index, which had slumped below 7,600 on 9 April following a global sell-off triggered by Donald Trump’s announcement of new tariffs on US trading partners. Markets rebounded sharply after Trump paused the tariffs for 90 days, sparking a relief rally that has since driven UK share prices steadily higher.
FTSE 100 edges higher, led by Halma and Tesco, as it nears all-time intraday high
The FTSE 100 rose by 20.5 points, or 0.23%, on Thursday, outperforming other major European indices, which slipped amid ongoing concerns over global trade tensions.
Among the top performers was Halma, the UK-based health and safety technology group, which climbed 2.8% to a record high after forecasting revenue growth ahead of City expectations for the year ahead.
Tesco also gained 1.8%, following a stronger-than-anticipated rise in underlying sales during the supermarket’s first quarter.
The FTSE 100 now stands just shy of its all-time intraday high of 8,908 points, set on 3 March.
