First-class finish: UK markets close 2017 on a record high
The UK stock markets have smashed a record high on the last trading day of the year.
The FTSE 100 climbed 0.85 per cent in the half-day session, reaching 7,697.6. Over the year, the blue-chip index rose 7.6 per cent.
Meanwhile, the FTSE 250 rose 0.41 per cent to a record 20,726.3. The index was up by 14.6 per cent over the year.
Mike van Dulken, head of research at Accendo Markets, said: "Equities are trying to eke out the most of an already generous Santa rally.
"The only blot is European bourses struggling under the weight of a weaker US dollar and thus penalised by a stronger euro. The FTSE would normally find hindrance in similarly derived sterling gains, however, higher oil prices, a strong commodity sector and interest in select defensives are providing a welcome offset."
Other mining stocks performed strongly as copper traded at four-year highs; gold prices have reached their highest level in a month, and are on track for their best year since 2010. Randgold climbed 2.07 per cent to 7,410p, and Rio Tinto was up 2.18 per cent to 3,942p.
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