Footsie closes on 15-month high

London’s FTSE 100 Index closed at a new 15-month high today after investors cheered another set of upbeat economic figures.

The Footsie ended weeks of toil below the 4400 mark by rising 67.4 points to 4410 – its highest level since August 2002.

The mood was helped by strong production data in the UK and stronger-than-expected numbers in manufacturing activity and construction spending in the US.

David Buik of spreadbetting firm Cantor Index said the prospect of interest rates remaining on hold later this week had provided a further boost.

He added: “There is no doubt that the market feels very strong.”

Mining stocks, including BHP Billiton and RioTinto, were among the strongest risers after another surge in gold and copper prices.

Market heavyweights such as Vodafone – up 3% – and HSBC, which gained 2%, also helped the London market shake off uncertainty seen in recent days.

Elsewhere there were signs of encouragement for the battered tech sector, with chipmaker ARM Holdings leading the FTSE 250 Index with a rise of almost 10% following upbeat industry data on semiconductor sales.

The Footsie has made steady upward progress since pre-Iraq war nerves sent the top flight index as low as 3287 in March.