The FTSE 100 came within touching distance of the 10,000 mark on Tuesday, as the UK’s blue-chip index extended its record-breaking rally to fresh highs.
The index climbed to 9,885 points in afternoon trading, prompting speculation that it could soon breach the symbolic 10,000 level for the first time in its history — despite ongoing fiscal uncertainty and a softer economic outlook.
Dan Coatsworth, investment analyst at AJ Bell, said the milestone could arrive “in a matter of days or even hours.”
“The FTSE 100 is within a whisker of hitting 10,000, and it could only be a matter of days or hours before reaching this triumphant level,” Coatsworth said. “It’s been a historic year for the UK, with the FTSE 100 outperforming all major US stock indices. Hitting 10,000 would be the cherry on top, proving to cynics that the UK market is not stuck in the mud.”
He added that Chancellor Rachel Reeves would likely welcome the achievement ahead of the upcoming Budget, which is expected to feature “difficult decisions.”
“Reeves would love the FTSE 100 to hit the magic 10,000 level before the Budget, so she can use the achievement to help back her campaign to get more people invested in UK assets. There needs to be some good news hook for the Budget,” Coatsworth said.
The latest rally underscores a remarkable year for UK equities, buoyed by a weaker pound, strong corporate earnings, and renewed investor confidence in London-listed companies.
