FTSE nears 2011 peak as banks climb

clock

The FTSE 100 is nearing a two-year high once again today as investors continue to snap up cyclical names including the UK's semi state-owned banks.

The blue-chip index is up 0.4% or 22.3 points, at 6,075, just a whisker away from the highest closing level seen in 2011, which was 6,091 points. Among the winners are Lloyds Group, up 5% at 53.4p, as well as peer Royal Bank of Scotland which is 2.4% firmer at 345.2p. The banks helped counter falls at insurer Aviva - down 2.5% at 372.4p amid fears over its dividend - as well as at Imperial Tobacco which is off 1.4% at £24.39. The UK's leading index has enjoyed a boost since late December, rising around 4%. It has been helped higher by US politicians coming to an agreement on the...

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

UK inflation holds firm at 2.2% as Bank of England decision beckons

UK inflation holds firm at 2.2% as Bank of England decision beckons

BoE weighs options ahead of the next MPC next Thursday

Linus Uhlig
clock 18 September 2024 • 2 min read
Chancellor warned current fiscal path could see 'deterioration' of public finances

Chancellor warned current fiscal path could see 'deterioration' of public finances

OECD urges Rachel Reeves to shorten fiscal time horizons

Eve Maddock-Jones
clock 16 September 2024 • 2 min read
Laith Khalaf: Rachel Reeves has got that 'kitchen sinking' feeling

Laith Khalaf: Rachel Reeves has got that 'kitchen sinking' feeling

The big question now is what Rachel Reeves intends to next

Laith Khalaf
clock 15 August 2024 • 5 min read