Mining stocks have come to the rescue, helping the FTSE 100 advance 0.3% to 6,962. Iron ore prices have been picking up again on tight near-term supply, helping to drive up the likes of Rio Tinto, BHP and Anglo American.
Diageo also continues to push forward, having recently been stuck in a tight trading range. Its share price managed to break out of this trend at the start of April and keen chart-watching investors have been latching on to this event ever since. A price target upgrade from a big investment bank also helped the stock on Thursday, pushing up Diageo 1%.
“The mid cap FTSE 250 index continues to set new record highs, rising 0.3% to 22,429 thanks to a mixture of builders’ merchants, housebuilders and airlines. Investors are buying these sectors to play the reopening trade and a general recovery in interest for UK stocks after a long period of being in the doldrums,”said AJ Bell’s Russ Mould.