LONDON: The London stock market jumped to a record peak Tuesday in a positive open across Europe, after hefty gains on Wall Street with all eyes on US inflation.
The British capital’s benchmark FTSE 100 index of top companies reached as high as 7,986.20 points.
“The tailwinds from another decent market performance in the US overnight have given the FTSE another boost, propelling it to a new record high and towards the psychologically important 8,000 barrier,” Interactive Investor analyst Richard Hunter told AFP.
“The index continues to attract investment interest with its exposure to banks and energy companies still seeing the benefits of rising interest rates and a recovering Chinese economy respectively.” The FTSE later stood at 7,982.41 points, up 0.4 percent from Monday’s closing level.
In the eurozone, Frankfurt’s DAX added 0.2 percent to 15,428.55 points and the Paris CAC 40 grew 0.3 percent to 7,231.64.
FTSE 100 edges higher on boost from defence stocks
New York stocks had powered higher Monday on predictions for slowing US inflation.
The US consumer price index, due later Tuesday, is forecast to have dipped to 6.2 percent last month from 6.5 percent in December, according to Bloomberg.
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