The FTSE 100 surged to a new record high as optimism over potential interest rate cuts fueled investor confidence, pushing the index above 8,500 points.
Joshua Mahony from Scope Markets highlighted that, contrary to fears of inflation, the weak economic data actually provided a boost to the stock market, exemplifying the 'bad news is good news' sentiment.
The recent gains are largely attributed to falling UK retail sales and easing inflation pressures, which could prompt the Bank of England to lower interest rates soon.
With a 1.5% increase in a single day, the index not only surpassed its previous high but also displayed a broad-based rally across nearly all sectors.
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