Record-breaking London stocks spearhead global rally
The Peninsula
London:London s stock market zoomed to another record peak Wednesday, in a broad based global rally fuelled by easing Middle East tensions, bright ear...
London: London's stock market zoomed to another record peak Wednesday, in a broad-based global rally fuelled by easing Middle East tensions, bright earnings and hopes of falling interest rates as inflation slows.
The British capital's benchmark FTSE 100 index of top blue-chip companies hit 8,092.12 points, extending this week's record-breaking run that began on Tuesday.
London this week became the latest global bourse to scale historic heights, following recent records in Frankfurt, Paris, Tokyo and Wall Street, propelled also by the prospect of global interest rates cuts owing to easing price rises.
Asian and Europe pushed higher after a strong US rally as investors also cheered news of US carmaker Tesla's plans to develop a more affordable electric vehicle, and digested the latest corporate results.
"Risk is back on in a broad way," XTB analyst Kathleen Brooks told AFP.
