FTSE 100 racks up eighth day of gains despite rising insolvencies and unemployment – as it happened

The Bank of England, at the financial district in London. Photograph: Kin Cheung/AP

4.44pm BST

Closing summary

Time to wrap up… here are today’s main stories.

First on today’s jobless figures….

… the cost of living squeeze….

…The clampdown on energy firms…

….The latest economic data…

…and also:

4.42pm BST

FTSE 100 posts eighth day of gains

In the City, the FTSE 100 shares index has closed 30 points higher at 7909 points, its eighth daily rise in a row.

That’s its joint-best run since December 2020, when it also rose for eight days in a row.

Mining stocks were lifted by China’s forecast-beating growth of 4.5% in the first quarter of this year, while gambling company Entain gained 7.2% after reporting a rise in gaming revenue this morning.

Hopes that the UK economy might avoid recession this year have also boosted markets in recent weeks, while the panic in the US and European banking sector has eased.