FTSE 100 hits record closing high amid hopes of interest rates cuts – as it happened

People walking through Spitalfields, near the City of London. Photograph: James Manning/PA

5.41pm BST

Closing Post

We must wait until tomorrow morning, at the earliest, to see if the FTSE 100 can storm to a new intraday alltime high (beating its previous record of 8,047 points).

If the pound continues to weaken, and if tensions in the Midde East continue to ease, it’s quite possible.

Until then, here’s today’s main stories:

5.41pm BST

Bloomberg have calculated that Shell and BP alone accounting for almost half of the 4% rise in the FTSE 100 so far this year.

They add:

AstraZeneca, HSBC Holdings and jet-engine maker Rolls-Royce are also among the main drivers.