FTSE 100 Trades Near Record Highs

(RTTNews) - The FTSE 100 benchmark of the London Stock Exchange is trading well above the flatline on Monday amidst a surge in defense stocks following the spike in geopolitical tensions between the U.S. and Venezuela.

The FTSE 100 which had closed at 9,951.14 on Friday traded between 9,951.10 and 10,022.75 on Monday.

The index is currently trading at 9,977.95, having added 0.27 percent from the previous close. The index had touched a record high of 10,046.25 on Friday.

In the 100-scrip index, 44 scrips are trading in the overnight green zone.

Aerospace business Babcock International Group topped gains with a surge of 4.95 percent. Bae Systems, Endeavour Mining, Antofagasta, all followed with gains of more than 4 percent.

Burberry Group led losses with a decline of 3.9 percent.

Amidst the dollar's strength, the six-currency Dollar Index has rallied 0.38 percent to 98.80 from the level of 98.42 at the previous close. The GBP/USD pair has decreased 0.15 percent to 1.3440. The sterling ranged between $1.3474 and $1.3414 in the day's trade. The EUR/GBP pair slipped 0.33 percent to 0.8679. The GBP/JPY pair has also slipped 0.14 percent to 210.80 as the yen strengthened amidst fresh hints of rate hike by Bank of Japan officials.

With yields easing across tenors and regions, bonds in the U.K. also witnessed a drop in yields. Ten-year bond yields in the U.K. shed 0.59 percent to 4.5110 percent. The yields ranged between 4.5390 percent and 4.4980 percent over the course of the day. Yields had closed near the six-week high of 4.538 percent a day earlier.