FTSE 100 closes at 12-year high

<p>The FTSE 100 finished at a 12-year high last night.</p>

The FTSE 100 closed last night (May 20th) at a higher level than at any point in the last 12 years, with analysts predicting the index could see further gains in the coming weeks and months.

It ended the day 32 points up at 6,756, which is the market's best finish since September 2000. It is also close to the all-time high of 6,930 reached in December 1999.

Speaking to BBC News, sales trader at Securequity Jawaid Afsar stated that as there is no selling pressure on the FTSE 100 at the present time "it keeps grinding higher".

He added: "Everyone keeps trying to call the top of the market but any wobble is another occasion to buy into it. The momentum is still bullish."

The FTSE 100's strong performance this year has been matched by the Nikkei market in Japan, which recently broke through the 15,000 barrier for the first time in more than five years.

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