(MENAFN- Kuwait News Agency (KUNA)) LONDON, April 22 (KUNA) -- The FTSE 100 stock index of the UK's biggest publicly-listed companies has reached a new record closing price this evening, BBC reported on Monday.
The fresh all-time high was driven by a weaker pound and easing tensions in the Middle East.
The index closed on Monday at 8,023.87 points to mark the new record, surpassing its previous high of 8,012.53 in February last year.
It was up 1.62 percent at its close, with retailers M&S, Tesco, Sainsbury's and Ocado among the big risers of the day.
Shares have benefitted from a weaker pound because the index on the London Stock Exchange has many firms with big footprints overseas.
A weak pound makes goods they export cheaper for foreign buyers and helps inflate the value of business done elsewhere.
The index has been steadily ticking upwards in recent weeks on hopes the Bank of England will cut interest rates as inflation falls steadily back down to the central bank's 2 percent target rate. (end)
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