The FTSE 100 raced to a record high yesterday – sparking predictions it could hit 10,000 before the end of the year.
On another upbeat day for savers with money tied up in shares through their pensions, ISAs and other investments, London’s blue chip index closed up 0.7 per cent, or 63.52 points, to 9491.25. The latest surge means the Footsie is up nearly 15 per cent so far this year.
Neil Wilson, UK strategist at Saxo, said: ‘We can see 9,500 taking shape and ultimately there are ample reasons to think that 10,000 on the FTSE 100 by the end of the year is entirely doable.’
The FTSE 250 rose 0.7 per cent and is up 7.6 per cent this year – but remains around 8 per cent below its 2021 peak.
Surge:Â London’s blue chip index closed up 0.7 per cent, or 63.52 points, to 9491.25
Investors brushed off concerns about the US government shutdown as Republicans and Democrats clash over a new funding deal. The stalemate has seen hundreds of thousands of federal workers stay home while others work with no pay.
The US non-farms payroll report – a crucial insight into employment in the world’s biggest economy – was not published due to the shutdown. But it did little to stop momentum in London with the Footsie now up almost 25 per cent from its April lows.
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