FTSE 100 Hits Record as London Stocks Catch Up With Global Peers

-- The FTSE 100 Index closed at a record high for the first time in more than a year, as recent equity market volatility and geopolitical risks prompted investors to pile into the defensive sectors that characterize the UK benchmark.The index — home of global bellwethers such as AstraZeneca Plc, Shell Plc and Unilever Plc — is catching up with global peers such as the S&P 500 Index which have been trading at record highs earlier this year.

Broader investor appetite was also returning after a pullback in stocks last week on worries about higher-for-longer interest rates as well as geopolitical tensions in the Middle East. The Stoxx 600 gained 0.6% on Monday, with telecoms and personal care stocks leading the rebound.Meanwhile, investors are bracing for the peak of earnings season, while monitoring comments from central banks to gauge the outlook for interest rates.

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