Shares in Britain’s biggest companies reached record levels on Friday as a slump in the pound boosted the value of firms with overseas earnings.
It could have been worse.
The London Stock Exchange chief executive has indicated he is ready to stay on at the company amid expectations that the controversial deal to merge with German rival Deutsche Börse will be blocked by Europe’s competition authorities.
President Donald Trump has helped drive up stock markets on Wall Street and in London to new highs, after he promised corporate tax cuts and a spending splurge on infrastructure projects to boost the economy.
What sheltered lives they’ve been leading at the Financial Conduct Authority (FCA). For about two decades now, anybody who follows the flotation, or initial public offering (IPO), scene in London has known the process of bringing a company to the stock market is riddled with obfuscation and conflicts of interest.
All three main measures of the health in the stock market are at record levels.
The Dow Jones industrial average finally broke through the 20,000 barrier on Wednesday morning – a historic high for the leading stock market index and one it has been close to breaching since Christmas.