FTSE 100 index trades above all-time closing high

FTSE 100 index trades above all-time closing high

The FTSE 100 index this morning briefly traded above its all-time session closing high level that was reached in 1999.

The index shot up to 6,943.61 points immediately after opening this morning (Monday February 23) as traders expressed relief Greece had reached a deal with its creditors in the eurozone late on Friday.

This was higher than the index’s record level of 6,930.20 points reached at the London market’s close on December 30 1999, although it was still lower than the intra-day trading high of 6,950.60 reached the same day.

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The FTSE already breached that level on Friday (February 20) when it traded at an all-time record intra-day high of 6,961 points.

The market has been threatening to close at an all-time high level since late January. However, hopes for a record-breaking close have been dampened this morning after the index has receded to sub-6,900 points territory in later trading.

The FTSE slumped in early 2000 thanks to the collapse of the technology, media and telecommunications bubble and it has remained below its 1990s levels ever since.