The FTSE 100 has topped 8,500, beating a previous closing record of 8,474 last May.

The new all-time closing high came on the back of a weaker pound, which was trading at $1.22 against the dollar, and expectations of further interest rate cuts to boost a flat economy.

Bitcoin also surged to $104,882 ahead of the inauguration of Donald Trump, who may build a strategic reserve of cryptocurrencies in his second term as US president.

Finance, mining and building stocks were among the top risers on the FTSE 100, which ended the day up 1.4 per cent or 113.32 points at 8,505.22.

The domestically oriented FTSE 250 posted a more modest gain of 0.3 per cent to finish at 20,597.42.

Source: MSN