Experian is leading the charge on the blue-chip index after its first quarter revenue surpassed estimates. Rio Tinto is also among the top gainers.
The London stock market has benefitted from a range of factors this year, including a move by some investors to diversify away from US shares due to concerns over Donald Trump’s economic policies.
Despite some market turbulence earlier this year, Trump’s tariffs have helped UK stocks, as the UK is one of the few countries to have reached a trade deal with the US.
Dan Coatsworth, investment analyst at AJ Bell, said: “Outperforming the main US indices since January is a major achievement for the UK, and the FTSE 100 going through 9,000 builds on this success. It should help to convince overseas investors that the UK market isn’t dull and boring.
“The UK stock market is full of interesting companies that are leaders in their respective fields. While the UK market lacks the kind of technology opportunities found in the US, it excels in other areas and investors are spoiled for choice in sectors such as financials, natural resources, healthcare and industrials.
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“The timing is perfect, as the financial regulator has announced various initiatives to potentially give the UK market another boost. The IPO process will be sped up in an effort to convince more companies to list in London. Existing quoted companies won’t have to publish detailed documents to raise more money, in most cases. The process of issuing corporate bonds to retail investors will also be simplified.
“These initiatives are a step in the right direction, as long as investors can still obtain the necessary information on which to make informed decisions. With cash interest rates trending lower, there is a good chance that individuals will look at other ways to make money and investing is a natural avenue to pursue.”
