FTSE 100 touches above 9,000 for the first time

Britain’s blue chip share index surpassed the 9,000 level for the first time on Tuesday as European markets edged higher on hopes of a trade deal between the US and European Union.

The FTSE 100 Index briefly rose above the record high, hitting 9,016.98 at one stage in morning trading on Tuesday, having recorded a fresh closing high on Monday just shy of the milestone.

The top tier later eased back to stand 3.34 points lower at 8994.72 by mid-morning.

Markets across Europe lifted tentatively with the Dax in Germany and France’s Cac 40 up 0.3% and 0.2% respectively.

Investors were optimistic that a deal can still be reached between the US and EU, despite the latest tariff threats from US President Donald Trump.

Mr Trump said on Saturday that major trading partners Mexico and the EU would face a 30% tariff starting next month, piling on the pressure for deals to be struck.

Some stocks were struggling on the FTSE despite the record being reached, with Barratt Redrow plunging to the bottom of the top tier, shedding 7% after a disappointing update, which also dragged rival housebuilders Persimmon and Berkeley Group lower.

Victoria Scholar, head of investment at Interactive Investor, said a speech by Chancellor Rachel Reeves later will also be in sharp focus.

She said: “UK Chancellor Rachel Reeves prepares to deliver her closely watched Mansion House speech tonight when she is anticipated to outline a series of financial reforms including measures to improve mortgage access.”