UK Stock Market Hits Record

UK Stock Market Hits Record

LONDON (AP) -- Britain's leading stock index has struck a record high as a closely monitored survey showed manufacturers in the country expanding at their highest tick in 30 months.

By late-morning Tuesday, the FTSE 100 index was up 0.3 percent at 7,165. Earlier in the session, it had breached the 7,200 mark for the first time ever, trading as high as 7,205.21.

One of the main reasons why the FTSE 100 has hit a series of highs over the past few months relates to the near 20 percent fall in the value of the pound since June's vote to leave the European Union.

A weaker pound can help exporters win business in international markets. That was further illustrated in a survey of manufacturers that showed new business orders up strongly in December.