The UK stock market has quietly boomed to an all-time high, despite the country facing a cost-of-living crisis and intense pressures on middle-income households. The index’s rise is largely due to strong performances by banks, energy companies, and commodity stocks. The FTSE 100 index is heavily weighted in overseas revenues, and the index is also bolstered by strong performances by defensive staples like consumer goods and health care. The index’s rise comes amid warnings from economists that the UK is likely to avoid a technical recession this year, but that one in four households will be unable to fully pay their energy and food bills.
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