U.K. Stock Gauges Hit Simultaneous Highs 1st Time Since ’99
- Pound extends its decline, falling to the lowest since 1985
- Gauge tracking economic surprises is near a three-year high
FTSE 100 Extends Gains, Breaks Through 7,000
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For the first time in almost 17 years, U.K. equity gauges of large-, mid- and small-cap shares reached records on the same day.
A tumbling pound and better-than-forecast economic data have been a boon for the nation’s stocks since Britons voted in June to leave the European Union. On Tuesday, the FTSE 100 Index of megacaps, the FTSE 250 Index of medium-sized companies and a FTSE gauge of small caps reached all-time highs. The last time the three gauges were at peaks on the same day was on Dec. 30, 1999.