The FTSE 100 Index surged to its highest close for more than 12 years today as free-spending central banks continue to send investors flocking to shares.
The London market closed up 32.6 points at 6,755.6, a 0.5% gain and its highest finish since September 2000 when the dotcom boom was in full swing.
Royal Bank of Scotland led the FTSE’s charge, gaining 4.5% or 15.1p to close at 351.9p on the back of an upgrade by Numis Securities.
Investor pessimism over the outlook for gold was reflected in a number of share prices however, with Fresnillo down 35p to £10.34 and Randgold Resources down 61p to £46.96.
FTSE 100 newcomer easyJet was near the top of the risers board as investors took encouragement from the performance of Ryanair in the face of tough economic conditions. EasyJet shares, which have already risen by more than 50% this year, were up by 47p to £12.35.
Other risers included United Utilities after an upgrade of the sector by Goldman Sachs and recent excitement surrounding the overseas bid interest in rival Severn Trent. United shares were 19.5p higher at 784.5p while South West Water owner Pennon cheered 20p to 719.5p in the FTSE 250 Index.
The biggest risers on the FTSE 100 included SSE up 44p to £16.46 and Petrofac 36p higher at £13.61.
Among the biggest fallers on the FTSE 100 were Eurasian Natural Resources off 7.5p to 264.1p, Polymetal International 16.5p lower to £6.17 and Marks & Spencer down 10.5p to 440.5p.
Barry Shepherd, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that risers included Centrica which added 1.6% to 393.1p, Hunting rose 1.6% to 886.25p and Xcite Energy closed 10.8% higher at 101.75p.
Fallers included Weir Group, which shed 0.5% to £23.86, while Parkmead finished 0.95% lower at 12.875p.
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