# London’s FTSE 100 hits fresh record high as telecoms surge
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-02-14
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: FTSE 100 Hits Record High as Telecom Stocks Surge on Liberty
Meta Description: Stay updated on UK's FTSE 100 hitting a record high with telecom stocks gaining momentum after Liberty Global's stake in Vodafone, all eyes on U.S.
URL: https://financedigest.com/londons-ftse-100-hits-fresh-record-high-as-telecoms-surgehtml

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By Shashwat Chauhan

(Reuters) – UK’s FTSE 100 rose to a record high on Tuesday as telecom stocks gained after Liberty Global bought a stake in Vodafone, while investors braced for U.S. inflation [data due later](https://www.financedigest.com/10-steps-to-stop-lateral-movement-in-data-breaches.html "10 Steps to Stop Lateral Movement in Data Breaches") in the day.

The blue-chip FTSE 100 rose as much as 0.6% to its all-time high, before easing to trade up 0.4%. The [FTSE 250 midcap index gained](https://www.financedigest.com/londons-ftse-100-edges-higher-set-for-fourth-weekly-gain.html "London’s FTSE 100 edges higher, set for fourth weekly gain") 0.3%.

[Vodafone gained 3.2% after Liberty Global](https://www.financedigest.com/liberty-global-takes-5-opportunistic-stake-in-vodafone.html "Liberty Global takes 5% ‘opportunistic’ stake in Vodafone"), which owns half of rival Virgin Media O2, said it had bought a near-5% stake in the telecoms operator.

The broader [telecoms sector](https://www.financedigest.com/telecom-api-market-api-set-to-redefine-telecom-sector-as-telecom-2-0-gets-closer-to-reality.html "Telecom API Market – API Set to Redefine Telecom Sector as Telecom 2.0 Gets Closer to Reality") index gained 3.0%.

Travel and leisure stocks enjoyed an early lead, rising 0.9%, with TUI gaining 2.4% after the holiday [group said it was seeing a positive travel recovery](https://www.financedigest.com/hotel-group-accor-continues-post-covid-recovery-after-a-gorgeous-summer.html "Hotel group Accor continues post-COVID recovery after a ‘gorgeous’ summer") trend.

Easyjet gained 3.7% after Deutsche [Bank raised its rating on the airline’s stock](https://www.financedigest.com/asian-stocks-rally-as-bank-jitters-calm-alibaba-lifts-mood.html "Asian stocks rally as bank jitters calm, Alibaba lifts mood") to “buy.

Soft drinks bottler [Coca-Cola HBC AG jumped 3.8% after reporting a better-than-expected full-year operating profit](https://www.financedigest.com/coca-cola-hbcs-annual-profit-beats-warns-of-price-increases.html "Coca-Cola HBC’s annual profit beats, warns of price increases").

All eyes are now on U.S. [consumer prices](https://www.financedigest.com/analysis-to-raise-prices-or-not-consumer-goods-makers-weigh-bets-on-buyer-strength.html "Analysis-To raise prices or not? Consumer goods makers weigh bets on buyer strength") data, due later in the day, that could influence the Federal Reserve’s stance on future monetary policy tightening.

“We ended 2022 with this perception that we were going to go into a recession. Then, as the year started, throughout January, we said maybe not recessions but a little bit of a [soft landing,”](https://www.financedigest.com/stocks-dollar-gain-on-soft-landing-hopes.html "Stocks, dollar gain on soft landing hopes") said Daniela Hathorn, senior market analyst at Capital.com.

Now we’ve come to a point where we’re even questioning ourselves, “Is there going to be any landing at all?” This [changing mentality in the space of two months has been massive and I think that’s where markets](https://www.financedigest.com/cloud-computing-to-change-the-course-of-the-disposable-blood-bags-market.html "Cloud Computing to change the course of the Disposable Blood Bags Market") are slightly confused.

Meanwhile, data showed the [pace of growth in basic pay](https://www.financedigest.com/uk-recruiters-slow-pace-of-pay-growth-in-march-rec-survey-shows.html "UK recruiters slow pace of pay growth in March, REC survey shows") in Britain sped up again in the last three months of 2022, while the domestic unemployment rate held steady in the three months to December.

[Finance minister Jeremy Hunt said the figures showed a sign](https://www.financedigest.com/4-reasons-your-finance-employees-are-showing-signs-of-stress.html "4 reasons your finance employees are showing signs of stress") of resilience in the nation’s labour market.

(Reporting by Shashwat Chauhan in Bengaluru; editing by Eileen Soreng and Savio D’Souza)


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