LONDON: The British stock market rallied Thursday to a record peak, propelled by optimism over the government’s budget and after the US Federal Reserve cooled rate hike expectations.
Most eurozone stock markets edged higher but Athens fell sharply as investors awaited an EU summit for fresh news on the Greek debt crisis.
In morning deals, London’s benchmark FTSE 100 index soared to a record-high 6,982.79 points, building on gains won the previous day after the British government’s upbeat budget.
The FTSE later stood at 6,954.60 points, up 0.14 percent from Wednesday.
The CAC 40 index in Paris won 0.09 percent to 5,037.70 points and Frankfurt’s DAX 30 index added 0.07 percent to 11,931 points.
“After loitering in the shadows of its more impressive US and eurozone peers of late, the FTSE had its moment to shine this morning following the double-whammy hit of (the) positive UK Budget and US Fed statements,” said Spreadex analyst Connor Campbell.