Money

FTSE 100 closes at record high

The FTSE 100 has closed at a record high of 7,560, a day after the Bank of England raised the interest rate.

Friday's close beat the previous record closing high of 7,556, which the index reached on 12 October.

Market analyst David Madden from CMC Markets UK suggested further gains may be likely.

He said: "The FTSE 100 is comfortably above the 7,500 mark and the upward trend it has been in since mid-September is still intact, so … the wider bullish move could continue."

It follows Thursday's decision by the Bank of England to raise the interest rate for the first time in a decade.

The Monetary Policy Committee increased the base rate to 0.5% from 0.25%, where it had been set since the EU referendum.

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