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The markets clearly liked the look of the UK this week

Fireworks light up the sky over Buckingham Palace, lit in colours of the Union flag after the Party At the Palace as part of the Golden Jubilee celebrations in London Monday, June 3, 2002. Britain's Queen Elizabeth has been the British monarch for 50 years, since the death of her father George VI in 1952. (AP Photo/Steve Holland
AP Photo/Steve Holland
How celebratory!
By Melvin Backman
Published Last updated This article is more than 2 years old.

The FTSE 100, that stalwart index chronicling the ups-and-downs of British industry, had a smashing week. Investors cheered its ascent to the 7,000 threshold, a record. Driving the markets was a continuing healthy expansion under a regime of low interest rates. (The unemployment rate held steady at a six-year low in the most-recent data released this week.)  Stocks also received an extra push higher on the budget that Chancellor of the Exchequer George Osborne put forward, which eased the government’s austere fiscal position slightly.

British economic interests also stand to benefit from incipient signs of recovery in Europe, now that the European Central Bank has begun a Fed-style quantitative easing policy. Germany, the Netherlands and France are some of the UK’s top export markets, after the US.

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