Rolling coverage of the latest economic and financial news

• Bank of England poised to cut interest rates amid UK economic gloom

Britain’s blue-chip share index has hit a new all-time high at the start of trading, as investors anticipate a cut in UK interest rates today.

The FTSE 100 index has gained 0.8% to a new intraday peak of 8695 points, up 72 points today, above the previous record of 8,692 points set last month.

After a severe allergic reaction on Monday after the tariff news, markets continued to be relatively sedated yesterday as investors continued to price out the chance of aggressive tariffs.