FTSE 100 hits record high on back of US-Iran tensions

The FTSE 100 has secured a new record closing high after riding out a US trade war-linked slump. The index of London’s leading shares gained 20 points to hit 8,884, surpassing the 3 March peak of 8,771 and leaving its value more than 8.6% up in the year to date. It was achieved despite gloomy official figures covering April – when the impact of the US trade war started to be felt, household bills spiked and budget tax and wage rises hit employers for the first time. The Office for National Statistics reported that the economy contracted by 0.3%. Money…