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FTSE 250 hits new all-time high

by LLB Editor
25th Aug 21 10:35 am

The FTSE 100 continues to see out a fairly docile week so far, marking time until the start of tomorrow’s Jackson Hole summit of key economic decision makers.

AJ Bell financial analyst Danni Hewson said: “The travel sector continues to enjoy some strength amid hopes for the easing of restrictions with a dip in the pound also helping to lift the UK’s flagship index.

 

“Weaker sterling boosts the relative value of the overseas earnings which dominate the FTSE, though the more domestic FTSE 250 was also moving higher too, reaching a new record level early on.

“The feeding frenzy on the UK market showed no sign of letting up as waste management firm Augean agreed to an offer from London-based investment manager.

“This continuing global corporate raid suggests bidders still see a lot of untapped value in the UK market. The danger is that if it doesn’t let up soon London will be left looking like a bit of wasteland for stocks.”

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