FTSE 100 sets another record

This is what happened

The FTSE 100 has managed to set another record intra-day high.

The index climbed above the 7,500 mark for the very first time. It peaked at 7,505.46 before falling slightly.

A fall in the pound after inflation figures were released helped lift the index.

The sterling fell below $1.29 even though the inflation rate climbed to 2.7 per cent last month from 2.3 per cent in April.

The pound fell to $1.2893 and dropped 0.7 per cent against the euro to 1.1663 euros.

Vodafone came out as the biggest rise on the FTSE 100. Its shares rose 3.8 per cent.

Shares in EasyJet fell 5.3 per cent after the firm revealed half-year losses.