FTSE briefly hits 6,000

The FTSE 100 briefly broke the 6,000 barrier towards the end of trading on Wednesday (December 22nd), news which could interest people with private wealth invested in the stock market.

It was the first time since June 2008 the share index of the UK's leading companies hit the mark.

Telecommunications provider Vodafone and oil company BP both increased in value, while mining giant Rio Tinto fell after it announced plans to take over coal firm Riversdale.

However, trading volumes were relatively weak, just 38 per cent of the 90-day average on the last session before Christmas.

Last-minute Christmas shopping was thought to be behind gains in the retail sector, with DIY supplier Kingfisher and fashion chain Next up 2.2 per cent and 1.8 per cent respectively.

A recent article in the Daily Telegraph claimed high levels of inflation and rates of taxation mean putting money into stocks and shares provides far better prospects than traditinal savings accounts.ADNFCR-2318-ID-800311832-ADNFCR