The FTSE 100 crossed the 9,000-point threshold for the first time on Tuesday, briefly trading around 9,017 in early London dealings and extending its year-to-date advance to roughly 10 percent. Strategists attributed the fresh record to global investors moving cash out of U.S. equities, a weaker pound that inflates overseas earnings for many London-listed multinationals, and momentum from a newly signed UK-US trade accord. Gains in banking and defence stocks, alongside steady performances from consumer staples such as Next, Tesco and National Grid, helped propel the blue-chip benchmark higher. The landmark comes as European and Asian markets show cautious optimism ahead of major U.S. bank earnings later in the week. Market watchers say the FTSE 100’s heavy weighting toward dividend-rich, internationally exposed companies has shifted from a drag to a support, with earnings growth expected to remain solid if sterling stays subdued.
FTSE 100 hits 9,000 points for first time https://t.co/v4IjRU7XMA
Breaking news: The FTSE 100 has reached 9,000 points for the first time in its history, as UK stocks benefit from global investors diversifying away from the US and from London’s trade deal with Washington. https://t.co/11C704i0ez https://t.co/WrPz7oGfY4
We have a new all-time high for the UK FTSE 100 this morning. Also we have a big figure change as it moves above 9000 for the first time. Some good news for investors and pension funds 👍