FTSE 100 Live 22 April: Index closes at record high, Asda sales up [Video]

Rachel Winter, Partner at Killik & Co says the FTSE 100’s record high has a lot to do with a weaker pound

She said: “The FTSE 100 has just hit a record closing high of 8023. This is largely due to the weakness of sterling versus the dollar.

“The FTSE contains a large number of big international companies that earn their revenue in dollars and report their profits in sterling. When the dollar strengthens, these companies become more profitable in sterling terms.

“The strength of the dollar is due to sticky inflation in the US, which means that US interest rates will remain higher for longer. Higher US interest rates make dollars more attractive to hold, and so demand for dollars has increased and their price has risen.”

Here’s what’s on the schedule tomorrow after the FTSE 100 hit a record high today

ONS public sector finances

Kantar grocery market share figures