FTSE 250 reaches record high boosted by strong telecoms performance

Caitlin Morrison
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Telecoms firms like satellite company Inmarsat boosted the FTSE 250 (Source: Getty)

The FTSE 250 hit a record high today, with a push from the telecoms sector helping it outperform the FTSE 100.

Shares in Inmarsat closed the day up 2.1 per cent, while Intertek rose 2.3 per cent and TalkTalk gained two per cent. The FTSE 250 ended the day up 0.5 per cent.

Meanwhile, the FTSE 100 outperformed its German and French equivalents, with commodities firms higher today, and Marks & Spencer rising three per cent.

The pound dipped in early trading today, to below $1.30, but recovered to $1.3004 by pixel time.

David Madden at CMC Markets said: "All the hype around the pro-business policies that Donald Trump will implement helped push the greenback higher and higher after his election. Now, that there are major questions about how long he will be in office, dealers are dumping the dollar.

"Today has been a quiet day in terms of economic accouchements, but investors are still concerned about Mr Trump’s fight with the FBI. Also, the fairly positive economic indicators that came out of the UK and the Eurozone last week are still fresh in traders’ minds."

He added: "Later this week, the Fed will release their minutes from the April meeting, and this will give the market an insight into what they are thinking. It would be a risky move to increase interest rates while the political situation is unstable."

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