London's FTSE 100 hits new high on upbeat economic data, earnings

The UK's benchmark index hit a new high on Thursday after upbeat regional data underscored the economy's resilience, while a strong earnings run boosted financials, reports Reuters.
The blue-chip FTSE 100 was up 0.45 per cent as of 1028 GMT. The domestically focused mid-cap index added 0.7 per cent to hit a four-year high.
Britain's economy grew 0.3 per cent in November, its fastest pace since June, helped by Jaguar Land Rover's return to full production after a cyberattack.
Sterling was marginally down against the dollar after the data release, which failed to affect the policy rate outlook, with traders pricing in around 40 basis points (bps) of Bank of England rate cuts by September.
Fund manager Ashmore Group topped the FTSE 250 with a 17 per cent jump after reporting strong net inflows, and Schroders led the FTSE 100, rising 8 per cent after it said annual profit would beat market forecasts.
They powered their index, the investment banks and brokerages, up 3.2 per cent, outperforming its peers.
Banks also strengthened, with Barclays, Lloyds Banking Group, NatWest and HSBC rising between 1.4 per cent and 1.9 per cent. On the flipside, precious metal miners' index slipped 1.3 per cent as gold eased after investors booked profits following a record high in the previous session, while a softer tone from US President Donald Trump on the Federal Reserve chair and Iran also kept a lid on further gains.
Burberry was also a drag, down 4.2 per cent, mirroring a decline in marquee luxury names in Europe. Homeware retailer Dunelm's sank 17.6 per cent after warning that a challenging macroeconomic environment and cautious consumer spending would eat into its annual profit. Elsewhere, Oxford Biomedica jumped 10 per cent after the cell and gene therapy manufacturer confirmed receipt of an unsolicited all-cash offer from funds managed by EQT.