FTSE 100 ends 2017 at new record high as global markets celebrate $9tn year - as it happened

All the day's economic and financial news, as investors count their profits on the final trading day of 2017

• Latest: FTSE 100 closes at new high
• MSCI World Index has gained $9 trillion this year
• Asian markets have posted best year since 2009
• European markets post best year since 2013
• 2017's top business stories: Ryanair crisis, hackers and a giant rabbit

10.48pm GMT

Despite today's losses on Wall Street, global stock markets had a historic year.

World stocks, as measured by the MSCI All-Country World Index, rose in every single month - the first time ever that shares have avoided a monthly decline.

In fact, the index hasn't had a down month since October 2016. It ended up 0.5% in December, and rose 21.8% over the course of the year.

Jeffrey Kleintop, chief global investment strategist at Charles Schwab, credited the strength to improving corporate profitability, tweeting, "Why have global stocks gone up every month so far this year? Earnings have too (both actual and expected)."

10.46pm GMT

Hello again. After a rollicking year, the US stock market actually ended the final session of 2017 with some small losses.

5.07pm GMT

Hello again. Here's our news story about the global stock market rally this year:

Related: Global markets end on record high after adding $9tn in 2017

2.36pm GMT

Amazon's share price has taken a knock, though, after Donald Trump tweeted that it was getting an unfairly generous deal from the US post service.

Amazon opens lower after Trump says the U.S. Postal Service should be charging it 'much more' for package delivery https://t.co/flluKAdDh3 pic.twitter.com/Xoax7cCkr7

Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer? Should be charging MUCH MORE!

2.34pm GMT

Ding ding! Over in New York, the final trading day of the year is underway.

And stocks are moving a little higher - with the Dow Jones industrial average gaining 30 points or 0.12%, and the S&P 500 index up 0.16%.

2.14pm GMT

Gold has had its best year since 2010, pushed up by the weaker US dollar.

It just hit $1,300 for the first time since mid-October.

#Gold tops $1300 in commodity year-end rally. pic.twitter.com/Vdk0CTbVsQ

1.44pm GMT

The FTSE 100 surged by around 141bn during 2017, according to the London stock exchange.

The FTSE 250 index, which contains medium-sized companies, gained around 52bn as it rattled to fresh record highs.

1.32pm GMT

Shares have been a pretty decent investment this year - giving a rather better return than your local bank.

Richard Stone, chief executive of The Share Centre (a retail stockbroker) says there are reasons why shares could keep rising in 2018.

"For the second year in a row the FTSE100 has ended the year at an all-time high. Personal investors will have been relieved this year by a respite from the high volatility seen in the last couple of years. The level of volatility this year has though been remarkably low by historical standards and this has perhaps meant fewer trading opportunities for those investors who trade more actively.

Market commentators have expressed concerns about valuation levels for some time indicating a correction may be on the horizon. However, the market appears to be shrugging off any such concerns and continuing to go from strength to strength. Higher global growth forecasts, a continuation of relatively relaxed monetary policy and a loosening of fiscal policy specifically in the United States are all helping support equities. A personal investor who put money into a FTSE 100 tracker fund at the start of this year will have seen a return of nearly 8% with a dividend payout (yield) of over 3% on top of that.

1.10pm GMT

Mining giants also had a good year, thanks to a boom in commodity prices which saw copper hit a four-year high this week.

FTSE 100 has ended the year with a new (all time) record high. The main index of shares listed in London ended 2017 at 7,687 up 7.6% on last year.
The mining sector saw the biggest gains this year while Utilities such as water and electricity were the weakest.

1.07pm GMT

So, which shares should you have bought a year ago, and which should have come with a health warning?

The best-performing share on the FTSE 100 during 2017 was actually a healthcare business based in the the United Arab Emirates, called NMC Health. It jumped by 86% during the year; any traders who backed NMC may be sprinting to the nearest City champagne bar this afternoon....

12.41pm GMT

Breaking! A late burst of buy orders have sent Britain's FTSE 100 index up to a new all-time high.

The final trading day of 2017 ended with a flourish, with the FTSE 100 closing up 64 points or 0.85% at 7,687 points. Just before the close, it hit a new intraday high of 7697 points.

12.20pm GMT

Just 10 minutes until the end of the trading year in London, and the FTSE 100 is heading towards a fresh closing high.....

12.02pm GMT

World stock markets have surged to a new alltime high today, meaning they've put on a blistering $9 trillion in value since the start of January.

That's according to Reuters, which reports:

Markets were ending 2017 in a party mood on Friday after a year in which a concerted pick-up in global growth boosted corporate profits and commodity prices, while benign inflation kept central banks from snatching away the monetary punch bowl.

MSCI's world equity index, which tracks 47 countries, inched up 0.15% as six straight weeks and now 13 straight months of gains left it at yet another all time high.

Emerging markets have led the charge with gains of 34%. Hong Kong surged 36%, South Korea notched up 22% and India and Poland both made 27% in local currency terms.

Japan's Nikkei and the S&P 500 are both ahead by almost 20%, while the Dow has risen by a quarter. In Europe, the German DAX has gained nearly 14 %, though the UK FTSE has lagged a little with a rise of 7%.

11.47am GMT

The euro has enjoyed its best year since 2003, thanks to the recovery in the eurozone economy.

The single currency is the best performing G10 currency, according to Bloomberg data:

11.07am GMT

More photos of traders celebrating the last day of trading at the Philippine Stock Exchange in Manila have arrived; it seemed wrong not to share them.

11.03am GMT

The smaller FTSE 250 index is also at record levels.

It rose by 0.25% to 20,695 points, a gain of 55 points this morning.

10.41am GMT

The FTSE 100 is pushing further into record territory, as City investors get their buy orders in before trading closes early at 12.30pm.

Miners have been among the FTSE's best-performing stocks this year, with Antofagasta up 47.4% and Glencore up 40.7% year-to-date.

Elsewhere NMC Health has been the index's best-performing stock, while a takeover has pushed Worldpay's shares 57 percent higher this year.

Spooky. 2017 FTSE winner NMC Health +82.7% in 2015, +83.7% in 2016 and +86% YTD.

10.21am GMT

Technology companies have led the rally in Europe this year, mirroring the surge in Amazon, Google, Apple, Facebook et al.

Miners, banks and industrial companies also had a good year, as this chart shows:

Mining was the second best sector in the Stoxx Europe 600 this year pic.twitter.com/xuWNOJzx2n

10.09am GMT

Like most financial assets, shares are generally held by richer people (either directly or through pension funds). So the surge in global stock markets this year won't have helped tackle wealth inequality.

The FTSE 100's 6% rise this year has outpaced inflation (3.1% in December) and wages (up 2.3% during 2017).

UK to sink to the bottom of OECD wage growth index in 2018 https://t.co/cphbf3Wd9i

9.58am GMT

2017 hasn't just been about rising stock markets. Brexit, Donald Trump, food safety, inequality and even a giant, sadly deceased, rabbit called Simon featured in our most popular stories this year.

Here's a round-up of the business news that got you all clicking this year.

Related: 2017's top business stories: Ryanair crisis, hackers and a giant rabbit

9.33am GMT

The strong rally in Asia's stock markets this year is particularly remarkable, given the geopolitical threat posed by North Korea and the risk that president Trump could trigger a trade war.

But instead, traders have shrugged off these worries - sending shares jumping across the region.

While geopolitical uncertainty was a major focal point earlier this year - with several North Korean missile launches initially sending investor scurrying into safe-have assets - risk appetite has since improved, with markets looking instead to stronger economic growth globally.

MSCI's broad index of shares in Asia Pacific excluding Japan was up more than 34 percent year-to-date on Friday morning.

Asia stock mkts headed for a record close on the final trading day of 2017, capping best year since post-global fin crisis rebound of 2009, boosted by corporate profits & commodity prices & benign #inflation. WTI #Oil trades >$60/bbl. Dollar Index at 3mth low, #Bitcoin <$15k. pic.twitter.com/FxBjArGOft

9.20am GMT

The London stock market is "doing its festive best" to reach the New Year at a fresh record high, says Mike van Dulken of Accendo Markets.

Here are the top risers and fallers on the FTSE 100, as it hovers around this morning's peak of 7,636 points.

8.58am GMT

Most global stock markets have enjoyed strong gains this year.

Craig James, chief economist at fund manager CommSec, said of the 73 bourses it tracks globally, all but nine have recorded gains in local currency terms this year (that's via Reuters).

8.57am GMT

Japan's Topix share index has also enjoyed a bumper year; it's risen by over 19% during 2017.

Traders held a ceremony to mark the end of the trading year, and invited Go champion Yuta Iyama to ring the closing bell.

8.53am GMT

European stock markets are on track to record their best year since 2013.

The Stoxx 600 index has just opened flat, leaving it on track for a near-8% gain over the last 12 months.

8.47am GMT

The pound is also having a good morning. It's up 0.5% against the US dollar at $1.35, a three-week high.

8.24am GMT

Boom! Britain's FTSE 100 index has hit a new record at the start of trading.

The blue-chip index has jumped by 13 points to 7,636, slightly over yesterday's record high.

8.08am GMT

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

"While the broader economic outlook appears increasingly rosy, as captured by measures of consumer and business confidence, the more cautious nature of investors hints at a concern that markets may have already discounted much of the good news."