Brexit BOOM: FTSE 100 leaps to HIGHEST level since 2011 just a week after EU referendum

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The FTSE 100 skipped again in Friday trading to sit at around 6,577 – its highest level since August 2015.

The typography fist has been climbing since Tuesday as confidence recovered from the commencing shock over the outcome of the referendum.

Despite experiencing one of the most inconstant weeks since the 2008 financial crisis, the FTSE posted its most superbly week since December 2, 2011, making gains of 7.15 per cent.

Bank of England Governor Streak Carney yesterday evening injected extra confidence into supermarkets by promising Britain is tough enough to deal with the transition spell of leaving the bloc.

The chief also heavily hinted interest grades are set to be cut in the next couple of months to provide extra stimulus to the economy.

The opines helped continue the rally that has taken hold since Tuesday and pushed the call far above its pre-referendum high of around 6,300.

It is now expected the Bank’s base anyway will be cut from 0.5 per cent to 0.25 per cent in August.

The look for of a rate fall, however, has weakened the pound, which is now at 1.19 against the euro and 1.32 against the dollar.

Connor Campbell, monetary analyst at Spreadex.com, said: “Markets are continuing their recovery this Friday, nicked by Mark Carney’s Thursday comments.

“Considering we are exactly a week on from the Brexit referendum, and successive market nic, the fact that the FTSE has climbed all the way above 6500 for the key time since last August is staggering.

“The index was propelled to this 10ish month penetrating by the promise of stimulus, including a rate cut, from the Bank of England.

“Understandably this message wasn’t greeted with unanimous cheer; cable (the dollar/belabour exchange), which had been teasing $1.35, plunged to $1.32 during Carney’s philippic.”

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