Business

FTSE 100 fails to hit record high

Trader in London Image copyright Getty Images

The FTSE 100 came tantalisingly close to a fresh record high on Friday, but closed just 0.19 points up on the day.

The benchmark share index ended Friday trading at 7.523.23, having touched 7,560 earlier, which was above the record close of 7,556.24 hit last week.

Banks supported the index, with Standard Chartered up 3.2% and Barclays 1.8% higher.

Intercontinental Hotels Group slid 1.1% despite the Holiday Inn owner reporting rising third-quarter revenues.

The company said that the key measure of revenue per available room, or RevPAR, rose 2.3% in the three months to September.

However, there was a big split between its performance in Europe and the Americas. In Europe, RevPAR jumped 7.1% as tourists returned to markets previously hit by terror attacks, but in the Americas it was up just 0.8% in a quarter affected by hurricanes Harvey and Irma.

On the currency markets, the pound rose 0.21% against the dollar to $1.3187 and was up 0.89% against the euro at €1.1196.