In the past week the FTSE 100, the country’s benchmark stock index, has seen some substantial gains and on Tuesday it passed the 7,500 mark – this was the first time in its history it had reached this point.
This record high was partly due to the news that UK inflation had risen to its highest point in the last four years, which saw a drop in the value of sterling.
News on Oil
The previous day, rising oil prices along with greater infrastructure demand in China rallied the London index as high as 7,458. The increase in oil prices followed an agreement between Russia and Saudi Arabia to continue with cuts in oil production until March 2018. Mining company stock rose on the back of news from China of President Xi’s plans to develop transport links and infrastructure across the Asian region.
Benefitting from a …