FTSE 100 Index Surpasses 9,000 for the First Time Ever During London Trading

British flag. Pixabay

The FTSE 100, the benchmark stock index of the London Stock Exchange, surpassed the 9,000 mark for the first time ever during morning trading on July 15 (local time).

Shortly after the market opened, the FTSE 100 rose as much as 0.2% to reach 9,016.98, trading above and below the 9,000 level. The previous day, the FTSE 100 closed at 8,998.06, up 0.6%, setting a new all-time high on a closing basis.

Since the beginning of this year, the FTSE 100 has risen by more than 10%. This increase is attributed to investors diversifying their portfolios due to concerns over U.S. economic policy, as well as the positive impact of the United Kingdom becoming the first country to reach a trade agreement with the United States that includes some tariff reductions.

In addition, growing expectations that the Bank of England (BOE) will cut its benchmark interest rate by an additional 0.25 percentage points next month are also supporting the stock market.