LONDON – Britain’s FTSE 100 index of leading shares has closed at a record high.
The index ended Thursday’s session 0.7 per cent higher at 7,787.97, surpassing its previous peak of 7,778 in mid-January.
Since then, the index, like others around the world, has been hugely volatile. A bout of selling in February partly linked to fears about U.S. protectionism prompted many to think that stocks would endure a difficult year in 2018.
Many of those investor fears have eased and stocks around the world have advanced.
British stocks have benefited from the pound’s recent renewed weakness. As well as potentially boosting exports, a lower pound is good news for many of the multinational companies listed in London, as the money they make abroad will be worth more when brought back to the U.K.