Britain's FTSE 250 index hits record high, topping 2021 peak

Britain’s FTSE 250 surged to a new record high on Tuesday, surpassing its previous peak from 2021, and rising more than 0.7% on the day.

The rally lifted the domestically focused mid-cap index’s year-to-date gains to 8.6%, though it still trails the more internationally exposed FTSE 100 which has risen 9.7%.

Travis Perkins was the top performer on the FTSE 250, surging nearly 20% after first-half results showed price increases and cost-cuts helped the building materials supplier offset weak demand in the UK’s subdued construction market.