Barrier broken in a FTSE first

THE FTSE 100 has smashed through the 9,000 barrier for the first time, offering long-suffering UK investors a rare moment of triumph after years of underperformance.

- By Harvey Jones

Analysts hailed the milestone as a turning point for the UK's blue-chip index, which has spent much of the past decade in the shadow of Wall Street's tech-fuelled boom.

While US giants like Amazon, Apple, Nvidia, Microsoft and Tesla have dominated Stocks and Shares ISA and pension portfolios, UK shares had been written off as irrelevant and outdated. That perception is now starting to shift.

Dan Coatsworth, investment analyst at AJ Bell, said it took eight years for the FTSE 100 to rise from 7,000 to 8,000, yet only two years to break through 9,000. "That suggests that the market is shaking its unloved reputation and should help convince investors that the UK market isn't dull and boring."

The flagship index has this year even outperformed the main US index, as investors take advantage of lower UK share price valuations.