FTSE 100 nears record high as inflation fears ease

Blue-chip stock index ends week 1% off all-time best as markets across Europe rise amid falling energy prices

The UK’s FTSE 100 share index approached a record high on Friday, as European markets were lifted by hopes that the inflation shock from energy prices is easing.

The blue-chip stock index, which includes the 100 largest companies listed in London, hit its highest level in more than four years. It touched 7,864.95 points, less than 1% away from the record intraday high of 7,903 points set in May 2018, before closing at 7844.07.