FTSE 100 races into week as blue-chips aim for new 14-year high

9th June 2014

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The market is off to a flying start this week, with the FTSE 100 edging towards its best level since hitting 6,894.88 last month, its highest point since it peaked in December 1999.

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By 15:02 the leader-board was up 14.9 points on the day at 6,873.11 as traders continued to cheer the positive news from the US where on Friday it was reported that there was a 217,000 hike in non-farm payrolls in May, illustrating that the economy is back on the right track after the previous weather-related weakness.

The market also welcomed better export data from China, which spurred on gains among mining stocks.

Taking the blue-chips higher today are house builder Barratt Developments, up 2% at 374p, Sports Direct International also 2% higher at 826p and platinum and chemicals specialist John Matthey – still enjoying a run following last week’s good news, which firmed 1% at 3,313p.

Holding back progress is Lloyds, which today confirmed the TSB IPO pricing range, off 2% at 78.95p and turf accountant William Hill is also 1% down, to 345.9p.

The FTSE 100 reached its all-time high of 6930 on 31 December 1999, on the back of the technology, media and telecom (TMT) boom.

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