UK Stock Markets Close the Year on a Record High


The stock markets of the United Kingdom have reached a record high on the last trading day of 2017.

The FTSE 100 rose by 0.85 percent in the half-day session, reaching 7,697.6. Over the whole year, the blue-chip index grew by 7.6 percent.

Meanwhile, the FTSE 250 increased by 0.41 percent to a record high of 20,726.3. The index was up by 14.6 percent over 2017.

The head of research at Accendo Markets, Mike van Dulken, stated: “Equities are trying to eke out the most of an already generous Santa rally.

“The only blot is European bourses struggling under the weight of a weaker US dollar and thus penalised by a stronger euro. The FTSE would normally find hindrance in similarly derived sterling gains, however, higher oil prices, a strong commodity sector and interest in select defensives are providing a welcome offset.”

The FTSE 100 was led by Fresnillo and Old Mutual, which grew by 2.81 percent and 3.02 percent respectively.

Other mining stocks strongly performed as copper traded at four-year highs; prices of gold have reached their highest level in one month, and are on track for its best year since 2010. Randgold rose 2.07 percent to 7,410p, and Rio Tinto was up by 2.18 percent to 3,942p.