FTSE 100 hits record high as supply glut fears recede

The British blue-chip index climbed to 7,458.5 out of the gate on Monday morning, as the price of oil surged.

FTSE 100 hits record high as supply glut fears recede

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Unlike the nationalistic, “America First” tone struck by president Trump, Jinping promoted a message of an open door trade and economic policy. 

Unsurprisingly, the FTSE 100’s biggest gains were felt by the oil and commodities giants. Chilean copper miner Antofagasta was the top riser at the time of writing, up 1.94% to 789p.

BHP Billiton, Glencore, BP and Royal Dutch Shell rounded out the top five.        

Lloyd’s Banking Group, which Neil Woodford recently bought in his first foray into UK banks since 2003, was among the top ten best performers. Shares in the British bank were up 1.34% at 69.59p.