The FTSE 100 closed at its highest level in 15 years last night, and is inching further towards an all-time high

Jessica Morris
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The FTSE 100 is inching towards an all-time high (Source: Getty)

Britain's benchmark index continued to snap at the heels of an all-time closing high of 6,930 this morning. which was reached on the last day of trading in 1999 when markets were busily inflating over tech stocks.

This comes after the FTSE 100 closed at its highest level in 15 years yesterday, or its second best close ever, as low inflation suggested consumer spending will rise, and optimism returned to the Greek debt negotiations.

Economic data released by the statistics office showed inflation has fallen to an all-time low of 0.3 per cent, as global oil prices continue to struggle and a bitter supermarket price war which has depressed food prices rages.

This was cheered by investors, who have listened to Bank of England governor Mark Carney's arguments that low inflation will be a boon for economic growth, boosting household incomes and consumer spending.

The market shrugged off concerns over the collapse of talks between Greece and some of its international lenders, which descended into a war of words after Greece said it was given a document that was dramatically different to the one it had agreed to.

But optimism returned later in the day, after signs Greek banks would continue to get emergency funding despite a breakdown in debt talks between Athens and Eurozone finance ministers.

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