Record day as stock market grows by £21bn

ALMOST £21billion was added to the value of the UK stock market last night as the FTSE 100 ended on a record high.

For the second time in less than a week the blue-chip index beat records as trade tensions between the US and China eased and a weaker pound boosted overseas earners.

Investors were cheered after the two global superpowers agreed to halt punitive import tariffs.

The news helped boost the index of the UK’s 100 most valuable companies to close above 7,800 for the first time.

It finished up 80.38 points, or 1.03 per cent, at 7,859.17, adding £20.7billion to the stock market. Its previous high of 7,787 came on May 17.

The biggest risers of the day included private equity firm 3i, drug maker Astrazeneca and luxury fashion house Burberry. Marks & Spencer and Sainsbury’s were also among the top performers.

Banks HSBC and Barclays, which have big businesses in America, climbed up the index, while oil giants Royal Dutch Shell and BP rose on higher crude oil prices.

MORE good economic news to shame the lies of Project Fear.

The FTSE 100 share index hit record highs yesterday, demonstrating the confidence international investors have in Britain’s post-Brexit future.

And this landmark came shortly after a remarkably upbeat Bank of England report which showed strong export figures to Europe, steady wage growth and little evidence that the Brexit vote had made it more difficult for UK firms to win longterm contracts in EU countries.

Meanwhile, unemployment is at a 43-year low, with more than 2,000 people finding work every day.

Is this what George Osborne meant by ‘an immediate and profound economic shock’?