FTSE 100 logs best month in more than two years

LONDON: Britain’s benchmark share index closed at a record high on Friday and logged its best month in more than two years, while investors prepared for the Bank of England’s rate decision next week.

The blue-chip FTSE 100 hit an all-time high of 8,692.84 and closed up 0.3%. It has gained 6.1% so far in January.

Meanwhile, the domestically-focussed mid-cap FTSE 250 rose 0.6% and was hovering at a near two-month high. It gained 0.8% this month. The gains were largely driven by US President Donald Trump’s decision to refrain from implementing aggressive tariffs on his first day in office. This unexpected move has calmed the markets, with many analysts suggesting that the tariff threat will serve as a strategic negotiation tool.