FTSE 100 reclaims 8k for the first time in over a year

Following on from an earlier update here this morning which noted the prospect of the FTSE 100 finally reclaiming the 8k level for the first time in over a year, the index has now done exactly that. The oil price has lifted further from earlier this morning and that has helped to boost the basic resources sector that is so prevalent in the FTSE. The weaker pound versus the dollar has helped too. The FTSE 100 is not exactly charging above 8,000 though and that is perhaps to be expected, as it is a major level. The high set back in February 2023 was at 8,047 and so it remains to be seen, if there is enough fuel in the tank today, to see that level challenged at some point