FTSE at new high despite sharp rise in borrowing

LONDON’S FTSE 100 notched another record close, and hit an all-time intra-day high, despite the threat of higher UK taxes after figures showed a sharp increase in government borrowing.

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The FTSE 100 index closed up 10.82 points, 0.1%, at 9,023.81. It had earlier hit a new all-time high of 9,035.37.

The FTSE 250 closed down 78.20, 0.4%, at 21,934.26, and the AIM All-Share closed down 0.74 of a point, 0.1%, at 770.14.

According to the Office for National Statistics (ONS), public sector borrowing totalled £20.68 billion in June, exceeding an FXStreet-cited consensus estimate for £15.6 billion and up from £17.44 billion in May.