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FTSE 100 hits 7,500

The FTSE 100 has closed above 7,500 for the first time despite inflation at the highest rate since September 2013.

Laith Khalaf, Senior Analyst, Hargreaves Lansdown:

“It's a red letter day for investors who continue to see the value of their pensions and ISAs rise with the UK stock market.

An improving global economy, a weaker pound and higher commodity prices are behind the surge in share prices. It's quite amazing to think the footsie has gained 2000 points in the last fifteen months against a background of weak investor confidence.

In the short term the market can of course move in either direction but investors will be thinking that the 8,000 mark is hovering into view.”