London stocks hit new record at open

THE London stock market struck a new record peak in opening deals on Wednesday (Apr 24), propelled by easing geopolitical tensions and interest rate cut hopes as inflation cools.

London’s benchmark FTSE 100 index of top companies rallied to an all-time pinnacle of 8,083.92, eclipsing the previous record that was set Tuesday.

The FTSE later stood at 8,071.51, up 0.3 per cent from Tuesday’s closing level.

Elsewhere, Frankfurt’s DAX gained 0.2 per cent to 18,173.29 at the open, while the Paris CAC 40 fell 0.2 per cent to 8,091.60 after French luxury group Kering issued a profit warning over slumping Gucci sales. AFP