FTSE hits highest close since 2007

City A.M. Reporter

THE FTSE 100 closed at its highest level since 2007 today at 6,529.41, after better-than-expected US weekly jobless data.

Engineer Aggreko led the pack, pushing the index to close up 0.7 per cent, as it inked a $200m deal to supply power to Mozambique and Namibia. It was closely followed by BT Group, which rose 4.4 per cent, and Marks & Spencer, which ended the day 3.5 per cent up.
"Overall the trend from a technical point of view looks healthy and upwards ... I don't think it's beyond the realms of possibility that the FTSE could hit an all-time high some time this year," said Angus Campbell, head of market analysis at Capital Spreads.
Gerard Lane, equity strategist at Shore Capital, meanwhile, said: "In the back of my mind, I've got 7,000 for Christmas, but I wouldn't be surprised if we see a big shake-out before then, partly because we inevitably do," he said.
Retailers were also in favour. Grocer Morrisons added 1.7 per cent after raising its dividend by 10 per cent and announcing talks with online grocer Ocado over an online food operation.
Ocado, which has been the talk of bid rumours involving Morrisons and is one of the most shorted stocks on the FTSE indices, also reported a strong rise in recent sales and jumped 23.7 per cent, the standout midcap gainer.