London, Mar. 6 (ANI): New York’s Dow Jones share index set a new all-time high on Tuesday, and London’s FTSE 100 closed at it highest level in five years.
The Dow reached 14,285 during the day, exceeding the previous record intra-day high of 14,198, set in October 2007, the BBC reports.
It closed slightly lower at 14,256 and the FTSE closed at 6,432, its highest close since January 2008.
The rallies mean the stock markets are returning to levels not seen since before the global financial crisis.
According to the report, the recovery suggests investors are regaining confidence in the US and world economies following the financial crisis and global recessions of recent years.
The Dow has more than doubled in value since it plummeted to less than 6,550 points during the financial crisis in March 2009, while the FTSE has risen by 68 percent from its 2009 low, the report said.
The US’ other closely-watched index, the S&P 500, also ended the day just short of its pre-crisis high, having gained 125 percent since 2009, it added.
The European Central Bank, the Bank of England and the Bank of Japan are all expected to stick with low interest rates and quantitative easing programmes at meetings this week, the report said. (ANI)