FTSE hits fresh all-time high on sterling weakness

Follows 'Santa rally'

After ending 2016 on a record high of 7,142 points, the FTSE 100 made further gains in early morning trading climbing 0.7% to 7,202 points.

A 'Santa rally' at the end of last year, which saw the FTSE 100 closing at a new all-time high of 7,142.83 points on Friday 30 December, was extended into 2017 with blue chips surging in the year's first trading session.  FTSE 100 closes near record high as sterling slides to lowest since 1985 The index was bolstered by British manufacturing growth unexpectedly hitting a two and half year high, with the UK Manufacturing Purchasing Managers index (PMI) rising to 56.1 its highest level since June 2014, and further weakness in sterling. The UK's leading companies drove the FTSE 0.7% h...