This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-42512023
The article has changed 6 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
UK stock markets close at a record high | UK stock markets close at a record high |
(about 1 hour later) | |
UK stock markets climbed to new highs on the final day of trading for 2017. | |
Both the FTSE 100 index of leading blue chip companies and the FTSE 250 reached new records at the close of trading. | |
US stock markets have also hit new peaks over the year, helped by Donald Trump's sweeping tax reforms. | |
Stephen Eckett, author of the annual Harriman Stock Market Almanac, said: "All the dangers that were anticipated with a Trump administration haven't materialised." | |
The FTSE 100 finished up 7.6% at 7,687.77 compared to the last day of trading in 2016. | |
Meanwhile, the FTSE 250 ended 14.7% ahead at 20,726.26. | |
Mr Eckett said: "It has been a little bit of a surprise to many people that markets were are strong as they were this year." | |
George Salmon, an equity analyst at Hargreaves Lansdown, said the FTSE 100 had been lifted by natural resource giants such as Shell and BP which have benefitted from a rise in oil prices. | |
Brent crude fell as low as $45 per barrel in June but is now trading at $66.34. | |
However, John Botham, global equities product director at City firm, Invesco Perpetual, said that, while the UK's leading index is at a record high, "the FTSE 100 has performed far less well than the US stock market and indeed many stock markets around the world". | However, John Botham, global equities product director at City firm, Invesco Perpetual, said that, while the UK's leading index is at a record high, "the FTSE 100 has performed far less well than the US stock market and indeed many stock markets around the world". |
In the US, the main stock market indexes have all risen by more than 20% this year. | |
They have been further boosted by President Donald Trump's sweeping tax reform. | They have been further boosted by President Donald Trump's sweeping tax reform. |
Under the changes, the US corporate tax rate will fall from 35% to 21% in 2018. | Under the changes, the US corporate tax rate will fall from 35% to 21% in 2018. |
US markets will hold their final trading session later on Friday. | US markets will hold their final trading session later on Friday. |
Commenting on the year ahead, Mr Botham said: "We are looking at a situation where global growth seems reasonably well synchronised and we are likely to continue to see earnings growth from companies around the world." | Commenting on the year ahead, Mr Botham said: "We are looking at a situation where global growth seems reasonably well synchronised and we are likely to continue to see earnings growth from companies around the world." |