FTSE 100 nears record high ahead of inflation data

Boosted by consumer staples and banks

Valeria Martinez
clock • 1 min read

The FTSE 100 is edging closer to its record high as investors await key economic data this week, including the UK inflation print.

After a rally of more than 5% in 2023 so far, the blue-chip index entered the week just 33 points from its all-time closing high of 7,877.45 According to data from MarketWatch, the index rose 0.1% at the open on Monday, less than 1% away from record highs. The FTSE 250 mid-cap index rose 0.2%. Consumer goods like Diageo and British American Tobacco, which increased by 0.4% and 0.8%, respectively, were among the top gainers, while banks added a 0.4% boost. Marks & Spencer rose 0.4% in response to news of its plans to open 20 new stores throughout Britain, creating 3,400 new jobs. ...

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

'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read
Advisers urged not to let clients 'act too soon' ahead of Budget

Advisers urged not to let clients 'act too soon' ahead of Budget

Communication is about ‘staying calm and keeping clients focused’

Isabel Baxter
clock 22 October 2024 • 5 min read
Why the Bank of England needs to stop over-sharing

Why the Bank of England needs to stop over-sharing

'We are used to the comments of central bankers moving markets'

Laith Khalaf
clock 17 October 2024 • 4 min read