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

  • 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

Increases were largely attributed to rises in fuel, gas and electricity prices as well as food and non-alcoholic beverages

UK inflation unexpectedly jumps to 10.4% in February

All eyes on Bank of England interest rate decision

clock 22 March 2023 • 3 min read
“Banks are often seen as oiling the wheels of the economy, so that any shocks to the established system can result in intense scrutiny on the financial strength of banks in general.”

Contagion is 'spreading' from banking to real economy

Some of the most affected stocks were non-financials

clock 21 March 2023 • 5 min read
Market turmoil prompted an unscheduled meeting of the ECB Supervisory Board

Bank shares sell-off sparks unplanned ECB board meeting

Meeting prompted by tumultuous week for banks across the world

clock 17 March 2023 • 1 min read