Nearly every share on the index rises as fall in value of pound helps multinational companies listed in London

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The UK’s blue-chip stock index hit a record high on Friday, as rising hopes of interest rate cuts this year drove down government borrowing costs.

Nearly every share on the FTSE 100 rose on Friday, as a fall in the value of the pound boosted multinational companies listed in London and propelled the index above 8,500 points for the first time.