FTSE surges to record high

THE FTSE 100 yesterday hit a new closing record after investors “fished for opportunities” outside the US, despite the UK economy shrinking by more than expected in April.

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The index of the UK’s leading shares rose 0.23% to close at 8,884 last night, topping a previous high of 8,871.31 on March 3.

Shares have rallied in recent days and that continued yesterday despite Chancellor Rachel Reeves acknowledging “clearly disappointing” new gross domestic product (GDP) figures.