FTSE 100 breaks the record as UK services bounces back
The FTSE 100 share index closed at a new high on Friday 3rd November 2017, up 5 points or 0.07% AT 7, 560.35. Share prices were boosted by Thursday’s fall in pound following the Bank Of England’s first interest rate rise in ten years, as investors digested the very gradual further rises in interest rates.
Sterling was boosted by better-than-expected services data as the UK economy grew by its fastest rate in six months to October.
Sterling rose against the dollar, adding 9.17% to $ 1.3081 and against the Euro up 0.56% at €1.1264. Resurgent oil price and better results from BP and Shell and the global economy is doing well at the moment, and with interest rates still staying low, as the Private healthcare provider NMC Health’s shares rose 4.29% following an upgrade from Deutsche Bank.