LONDON, May 4 — Britain’s FTSE 100 hit a fresh record high today, led by gains in homebuilder stocks, while softer-than-expected US jobs data boosted investor sentiment.
The blue-chip FTSE 100 ended the session up 0.5 per cent, after hitting a fresh record high of 8,213.49 points earlier in the day. The FTSE 250 touched its highest levels since February last year and ended 0.6 per cent higher. Both indexes registered a second straight week of gains.
Signs of easing inflation, hopes of early interest rate cuts by the Bank of England and attractive prices have helped boost investor interest in UK equities.
In the US, investors reacted favourably to the release of data showing slower-than-expected job growth and a dip in annual wage growth in April, which increased the likelihood that the Federal Reserve would cut interest rates later this year.
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Rate-sensitive homebuilders led sectoral gains with a 4.3 per cent jump….
