The FTSE 100 closed above the 7,100 level for the first time since February 2020 to finish the week more than 2% higher, as upbeat customs data from China and Germany boosted hopes of a robust global economic rebound this year. On Thursday, the Bank of England kept its monetary policy unchanged but reduced its bond purchases, a move that reinforced the view of a solid economic bounce. The Bank also raised its estimate for UK GDP growth to 7.25% in 2021, up from a previous forecast of 5%. On the political front, Prime Minister Boris Johnson’s ruling UK Conservatives won a crushing victory in the parliamentary district of Hartlepool. Historically, the UK FTSE 100 Stock Market Index reached an all time high of 7903.50 in May of 2018. The FTSE 100 Index is a major stock market index which tracks the performance of 100 most capitalized companies traded on the London Stock Exchange. FTSE 100 companies represent about 80 percent of the entire market capitalization of the London Stock Exchange. It is a free-float index. The FTSE 100 has a base value of 1000 as of January 3, 1984.