Investors cautiously welcomed Donald Trump’s first full day in office, pushing the FTSE 100 to a new record high.
Britain’s blue-chip index climbed 0.3% to reach an intraday peak of 8,575.82 amid hopes that the President might adopt a more measured trade policy than initially feared.
Susannah Streeter, Head of Money and Markets at Hargreaves Lansdown, commented, “The FTSE 100’s composition offers resilience in an uncertain world. With significant exposure to pharma, consumer staples, and utility stocks, investors can expect stable returns regardless of economic conditions.”
Meanwhile, the domestically oriented FTSE 250 advanced by 0.5% to close at 20,694.33. This rise came as Chancellor Rachel Reeves told Davos that growth “trumps other things,” sparking speculation about her potential support for expanding Heathrow and other airports.
On the FTSE 100, British Airways parent IAG gained as much as 1.3%, while on the FTSE 250, wealth manager Quilter surged up to 6.7% following reports of a “blockbuster” fourth quarter, according to Panmure Liberum.
National debt stands at £2.8 trillion
According to the Office for National Statistics, the national debt exceeded £2.825 trillion by the end of December, representing roughly 97.2% of the country’s GDP. This figure is 0.3 percentage points higher than it was at the close of December 2023 and is at levels not seen since the early 1960s. In addition, the ONS raised its November debt estimate by £1.3 billion to £2.819 trillion.
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