FTSE soars and pound slips as more interest rate cuts predicted
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Positivity around global equity markets helped propel the FTSE 100 to record levels, marking a week of progress for London’s financial markets. Joshua Mahoney, chief market analyst at Scope Markets, said: “The FTSE 100 has pushed sharply higher as a fresh bout of weak economic data poured cold water on the notion that the Bank of England would have to take a patient approach in the face of burgeoning inflation pressures. “Meanwhile, the ongoing weakness of the pound provides an additional tailwind for international-focused UK listings.” Elsewhere in Europe, the other main markets also rallied amid broader positive sentiment about possible rate cutting. Smiths Group was one of the top risers on the FTSE 100 after an activist investor urged the engineering products business to launch a strategic review and consider breaking up.
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