The FTSE 100 just closed at a record high

The FTSE 100 finished at a record high after a turbulent day in politics pushed the pound lower.

Britain's bluechip index closed at 7,556.24 points, pushed higher by energy stocks, as well as financial advisers St James's Place and Hargreaves Lansdown.

The rise was driven by the devaluation of sterling, which tumbled after Brexit negotiators on both sides admitted to a deadlock.

‘The UK stock market continues its winning streak despite concerns over economic performance and the unfolding Brexit process," said Laith Khalaf, senior analyst at Hargreaves Lansdown.

"The question is whether the market’s strong run means it’s fit to burst. To that end, it’s vital to recognise that the level of the FTSE is not a measure of the value in UK stocks, seeing as it doesn’t take account of the level of earnings of companies in the index.

"Basing investment decisions on the level of the FTSE is therefore like deciding whether to buy something based on its price, without actually knowing what the item is."

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