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London: Stock market rebounds to new record peak
[LONDON]The British stock market finished 2016 with a bang on Friday, rebounding to a new record closing high in shortened holiday trade.
London's FTSE 100 index of top companies, which spent most of the half-day session in negative territory, experienced a last-gasp jump to finish 0.32 per cent higher at 7,142.83 points.
The market, which has struck a series of record peaks this week, shut up shop at 1230 GMT.
London stocks often climb during thin trading between the Christmas and New Year holidays in an phenomenon called a "Santa rally".