London's FTSE 100 notched up a fresh record high today, rising strongly as an easing in Sino-US trade tensions and a strengthening dollar gave more fuel to the internationally-exposed index.
The index of the UK's biggest companies was up 1% in by the close of business, hitting a new record high at 7,859.
UK equities enjoyed a broad-based rally, with all sectors making gains, while financials and energy provided the strongest boosts. The FTSE 100 has gained 7% in the past month.
On a calmer day for corporate updates, Ryanair stole the spotlight. Its shares had a strong swing back into positive territory, up 2.9%, having fallen as much as 3% at the open.
The airline said higher fuel and staff costs would hurt profits in its new financial year, but investors focused on Ryanair's record earnings for 2017-2018.
The airline is listed in both Dublin and London.
Banks HSBC and Barclays and insurance company Prudential provided the biggest boosts, up 1-1.4%.
Oil majors Royal Dutch Shell and BP also climbed as crude prices gained after China and the US put a looming trade war "on hold".
But despite the index reaching new highs, analysts continue to downgrade earnings for the FTSE 100. The recent strengthening of sterling is likely to blame for this.
