FTSE 100 closes at new record level

The Financial Times Stock Exchange (FTSE) 100 share index has hit a new high- passing through the previous record set on 30 December 1999.

FTSE 100 closes at new record levelThe FTSE closed at a new peak of 6,949.63. The previous record close was 6,930.2, set at the height of the dotcom boom.

Earlier in the week, the index also set a new intra day high of 6,958.89- which surpassed the previous figure of 6,950.6, also set on 30 December 1999.

Shares rose after eurozone finance ministers approved reform proposals submitted by Greece.

The proposals were a condition for a four month extension of Greece’s bailout- which also had an impact on Greek stocks, with the benchmark Athex index ending the day 9.8% higher.

Stock markets around the world have been buoyed by economic stimulus programmes put in place by central banks after the global financial crisis that hit in 2008.

Whilst the growth of the FTSE 100’s rise is good news- it has been slower than those of stock markets in the US and Germany. Both the US’s S&P 500 and Germany’s Dax 30 exceeded their millennial year peaks in 2007 and they are now about 45% and 65% higher respectively

As such it is hardly impressive that, more than 15 years later, the FTSE 100 has finally breached its previous record close.
Savers switch

Analysts say that low interest rates for savers have encouraged people to invest in the stock market.

The FTSE 100 advanced for a record six straight years after it was launched in 1984.

One of the rockiest periods in its history was during the financial crisis in 2008 as the FTSE 100 had its worst year on record in 2008, when the crisis wiped 31.3% of the index’s value.

But on 24 November 2008 the index made its biggest one day gain of 9.8% when the US federal reserve stepped in to rescue Citigroup.

The FTSE 100’s biggest one day fall occurred on 19 October 1987, dubbed Black Monday, when ripples from Wall Street’s stock market crash prompted a 12.2% drop.

February 26, 2015  Tags: , , , , ,   Posted in: Business Finance, Business Growth, Business Win, Growing Business, Uncategorized, Winning Businesses

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