The FTSE 100 share index has set a new 21st century, closing at its highest level for over 15 years.
Tuesday (February 24th) saw the UK share index close at a peak of 6,949.63, beating the previous highest of 6,930.2 set on December 30th, 1999. The pre-millennium high was at the peak of the dotcom boom when many internet companies were starting to get off the ground. The FTSE 100′s performance yesterday managed to surpass this.
Figures remained strong throughout the day as investors became more optimistic about the future. The index recorded a new intra-day high of 6,958.89, which also topped the last record in 1999 of 6,950.6. Investors were buoyed by the announcement that finance minister had approved reform proposals put forward by Greece.
There has been concern over whether Greece would be leaving the eurozone after anti-austerity party Syriza gained power in the country. Since the election win, Greek ministers have been in discussions with Brussels for a revision in the terms of its bailout. The latest announcement confirmed a four-month extension of the nation’s bailout.
Share indexes across the globe improved on the news, with Greece’s benchmark, the Athex index, ending the day 9.8 per cent up.
UK economy uplift
The UK economy has been performing well in the opening part of the year. Figures from the Office for National Statistics (ONS) released in January showed the nation’s economy had grown by 2.6 per cent, the fastest pace since 2007.
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