FTSE 100 Hits Record as London Stocks Catch Up With Global Peers
- UK benchmark’s defensive characteristics help push it to peak
- Broader investor appetite returning after last week’s pullback
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The FTSE 100 Index closed at a record high for the first time in more than a year, as recent equity market volatility and geopolitical risks prompted investors to pile into the defensive sectors that characterize the UK benchmark.
The index — home of global bellwethers such as AstraZeneca Plc, Shell Plc and Unilever Plc — is catching up with global peers such as the S&P 500 Index which have been trading at record highs earlier this year. The FTSE 100 has also benefited from a recent drop in the pound amid mounting expectations for UK interest rate cuts.