The FTSE 100 has broken the 8,000 points barrier for the first time in its history, recording an intraday high of 8,003.65 yesterday (16 February).
While the index slipped to close the day at 7,997.83, it broke its record again this morning and was trading at 8,045.89 at time of writing.
The news comes following the UK's blue chip index breaking continuous records over the past fortnight, having broken its 2018 record on 3 February.
While "redemption day" is positive news for investors in the UK market, Laith Khalaf, head of investment analysis at AJ Bell, noted there was plenty of cloud alongside this silver lining.
UK narrowly avoids recession but 'flatlining' economy raises concerns
Much of the success is due to Russia's invasion of Ukraine, Khalaf said, with the boost energy prices helping the FTSE 100's heavy exposure to oil and gas, while the financial sector has also benefited from rising interest rates.
"A weak pound has also helped propel the Footsie upwards, thanks to all the overseas earnings made by the companies within it," he added. "It is notable that the last calendar year in which the FTSE 100 outperformed the S&P 500 was in 2016, when the pound also took a hammering following the EU referendum.
"But while a weak pound may be a shot in the arm for the UK stock market, it is also a vote of no confidence in the UK economy."
