FTSE 100 closes at highest level since May 2008

clock

The FTSE 100 closed at its highest level since May 2008 yesterday as investors continued to snap up cyclical names, including the UK's semi state-owned banks.

The blue-chip index rose 0.74% to 6,098 and surpassed its 2011 peak of 6,091 seen in February. Among the winners were Lloyds Banking Group, up 4.94% at 53.27p, as well as peer Royal Bank of Scotland which was 3.83% firmer at 349.90p. The banks helped counter falls at insurer Aviva - down 2.15% at 373.70p after an earlier fall of 2.5% amid fears over its dividend - as well as at Imperial Tobacco which was off 1.4% at £24.39 early in the afternoon but since regained some ground. The UK's leading index has enjoyed a boost since late December, rising about 4%. It has been helped hig...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read
Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read