FTG Blog - FTSE 100 heads towards another closing high

FTSE 100 heads towards another closing high

UK shares remained on the front foot on Friday, putting the FTSE 100 index on track to hit its second consecutive closing high.

Shortly after midday, the FTSE 100 was up 14.29 points at 7,430.24, although it remained short of the record intra-day high of 7,444.62 hit on Thursday.

RBS was the biggest riser on the FTSE 100, rising 2.3% after upbeat comments from analysts at Natixis.
In the FTSE 250, shares in Tullow Oil fell 15% on news of a rights issue.

Tullow said it was planning to raise about £607m through the share sale in order to cut its debts.

Housebuilder Berkeley Group was the biggest riser in the FTSE 250, climbing 6% after it said its full-year profits were set to be at the top end of forecasts.

The company added that the housing market in London and the South East had now “stabilised” since the post-Brexit vote fall in sales.

On the currency markets, the pound was unchanged against the dollar at $1.2358 and sterling was also flat against the euro at 1.1509 euros.