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.
FTSE 100 Index Surges to New Record Amid Positive Market Sentiment
