The FTSE 100 index is set for a new record after futures trading showed the rejuvenated benchmark heading for a rise of 0.6% or 51 points to 8095. The momentum follows more signs the US market is over last week’s tech sector wobbles, with shares in chip giant Nvidia up 4% and the Nasdaq Composite 1.6% higher. The S&P 500 index closed up by 1.2% ahead of results later this week by Meta Platforms, Microsoft, and Google parent company Alphabet. Tesla shares are expected to jump later today after first-quarter results included a pledge to accelerate the launch of more affordable vehicles. Revenues fell for the first quarter since 2020 and net income also dropped sharply. Tesla shares are down by 42% this year but traded as much as 13% higher in dealings after last night’s closing bell. Good morning from the Standard City desk. The London stock market powered on to a new all-time high this morning on growing confidence that the Bank of England will start cutting interest rates this summer. The FTSE 100 index of leading company shares jumped to a new intra-day record of 8,076, up 53 points in early trading, before settling back a little. The new benchmark comes hard on the heels of a strong session yesterday when the FTSE 100 ended at a closing high of 8,023, 128 points higher. The mood of optimism was further boosted by strong PMI business survey numbers showing output growing at its fastest rate since May 2023.