The FTSE 100 opened at a new intraday high today (April 23) after closing at a record high last night (April 22).
The stock index closed at 8,023.87 on Monday, after gaining 1.62 per cent from the previous trading day’s close of 7895.85.
And today (April 23) it rose 0.54 per cent to 8,067.44.
The previous record high at market close, of 8014.31, was recorded on February 20, 2023.
Axel Rudolph, a senior financial analyst with IG, said a de-escalation in the Middle East contributed to the FTSE rising, with a weaker Pound Sterling also aiding the recovery.
Elsewhere, the US S&P 500 also rose overnight to hit just over 5,016, up by 0.87 per cent.
Head of money and markets at Hargreaves Lansdown, Susannah Streeter, said: "With growth in the UK not shooting the lights out, and inflationary pressures showing signs of easing, there is still optimism around about the prospect of interest rate cuts coming later in the summer, which appears to have help the FTSE 100 climb higher.
"As lower borrowing costs are forecast later this year, amid a more slightly more positive outlook for the economy, housebuilders have also headed sharply higher amid hopes that stronger demand will return for new homes."
There are hopes the Bank of England could cut rates as inflation falls.
Interest rates have been held at 5.25 per cent for five months and it would be the first cut since March 2020.
tara.o'connor@ft.com
