The FTSE 250 index jumped to a 2024 high after the chancellor’s consultation on a ‘British ISA’ raised hopes of a boost for neglected UK ‘mid-cap’ stocks.
The benchmark, which measures the moves of the 250 shares below the FTSE 100, advanced 1.3%, or 249 points, to 19,521, ahead of the blue chip index which extended its gains to 0.6%, or 46 points higher, at 7,692.
Real estate companies rallied after chancellor Jeremy Hunt lowered the amount of capital gains tax on property sales to 24% from 28%.