FTSE 100 up 0.26% at 8,045 (Il Sole 24 Ore Radiocor) - London, 23 Apr - UK shares ended higher after hitting an all-time record high as investors juggle the odds of an early interest rate cut.

The FTSE 100 rose 0.26% to close at 8,045, just above yesterday's record close but short of the all-time high of 8,074 recorded in intraday trading earlier in the session.

Shares came off their highs after Bank of England chief economist Huw Pill said he saw 'no reason' yet for him to change his view that interest rate cuts were still 'some way off'.

UK rates are currently at a 15-year high of 5.25%. There has been increasing speculation the central bank could start cutting them as soon as June with another before year end.

On the stocks front, Primark owner Associated British Foods closed up 9% after strong earnings while JD Sports Fashion rose 3.8% following its proposed 1.11 billion dollar takeover of US retailer Hibbett.

Miners remained among the biggest losers of the day, with Anglo American down 2.3% after announcing a cut to diamond production.

AAA-Sje

(RADIOCOR) 23-04-24 18:17:45 (0762) 5 NNNN