FTSE 100 reaches record high as UK services sector rebounds

Flurry of orders appears to bolster Bank of England decision to raise interest rates, pushing stock market index to new record high

Shares in Britain's top 100 companies reached an all-time high on Friday, after buoyant sales across the services sector last month showed the economy remained resilient following the post-Brexit vote slump.

A flurry of orders that appeared to bolster the Bank of England move to raise interest rates this week, helped send the FTSE 100 index to 7,560, beating the previous end of day high of 7,556 on 12 October.

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Lenders have already bumped up the cost of fixed rate mortgages ahead of the Bank of England's decision to raise base rate from 0.25% to 0.5%, and mortgage borrowers on tracker and variable rates will see their monthly payments become more expensive in the coming days. "