FTSE 100 scales new highs as recession ends - Market Report

The FTSE 100 continued its record-breaking streak on Friday, climbing above the 8,400 mark early on.

Stronger-than-expected GDP growth of 0.6% over the first quarter fuelled gains, having marked the UK’s official exit from recession.

Among companies, British Airways owner IAG climbed after reporting a fall in net losses over the first quarter on growing demand and capacity.

Rightmove’s optimistic update detailing that the housing market would improve this year despite still high mortgage rates failed to enthuse investors in the meantime, as shares fell.

Dr Martens also dipped as the market opened, despite news its new chief financial officer would join the company early as struggles with muted demand continue.

And finally, S4 Capital jumped as reports of significant new business activity appeared to take eyes off a near-20% drop in first-quarter revenue.

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