British equity markets party like it’s 1999

THE FTSE 100 jumped to a 14-year high yesterday, smashing through a record level set just before the turn of the century.

The UK’s major index of stocks ended at 6,873.08, up 0.31 per cent, having peaked at over 6,877 during the day.

The FTSE’s all-time high at the end of 1999 was 6,950.6, a figure the index is now just a 1.1 per cent increase shy of returning to. Some of the UK’s biggest house- builders buoyed the market, with Barratt shares climbing 3.21 per cent and Persimmon rising 3.24 per cent over the day.

In the US, two of the country’s most influential stock indexes, the Dow and the S&P 500, reached record highs. The S&P index steamed to 1,900 for the first time ever during the day, but retreated later to close 0.04 per cent higher at 1,897.45. The Dow rose 0.12 per cent to end at 16,715.44. Earlier in the day the FTSEurofirst 300 had closed up 0.3 per cent at 1,368.75, its highest finish since May 2008.

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