Bitcoin rose above $70,000 for the first time as a new wave of crypto mania swept over investors.
The digital currency hit an all-time high of $70,175 as year-to-date gains soared to more than 60 percent.
Gold also hit a record $2,185 an ounce as hopes for rate cuts grew on both sides of the Atlantic in the coming months.
And global stock markets hit new highs as the not-too-hot, not-too-cold US jobs data indicated that the world’s largest economy has weathered a sustained period of higher borrowing costs and can now look forward to some relief.
There was one notable exception to all the cheering, however: the FTSE 100 index fell 0.4 percent, or 32.72 points, to 7,659.74 and the FTSE 250 gained 0.1 percent, or 17.8 points, to 19601.78.
Midas touch: Bitcoin hit an all-time high of $70,175 as year-to-date gains soar to more than 60 percent
London’s lackluster performance will do little to allay concerns that the UK stock market has lost its luster and is now lagging behind global rivals.
The broader rally came after U.S. Federal Reserve Chairman Jerome Powell said inflation is “not far” from where it would need to be before the central bank could cut rates.
The Bank of England and the European Central Bank are expected to follow suit this summer.
In London, life insurer Just Group reported a record for 2023, with profits rising 47 percent to £377 million.
It expects to achieve its target of doubling profits within three years instead of five. Shares rose 13.7 percent, or 12.2p, to 101.4p.
Exhibition company Informa benefited from the growing demand for live events in India, the Middle East and Africa. The group’s turnover rose 41 percent to £3.2 billion last year, while profits rose by almost three-quarters to £854 million.
The group has upgraded its expectations for 2024, expecting to achieve between £3.45 billion and £3.5 billion in revenues and profits of £950 million to £970 million. Shares rose 0.3 percent, or 2.6p, to 808.2p.
Currys is on course to sell its Greek and Cypriot operations for £175 million. The electronics retailer expects to complete the sale of Kotsovolos to Greek utility Public Power Corporation in the first half of April and use the proceeds to reduce debt. Shares fell 1.5 percent, or 1p, to 64.5p.
Ladbrokes and Coral owner Entain also came under further pressure. On Thursday, the gambling giant reported annual losses of more than £840 million for 2023 and warned it faces a £40 million hit this year due to regulatory challenges.
The shares, which fell 4.9 per cent in the previous session, fell a further 5.4 per cent, or 43p, to 747p.
Engineering firm Spirax fell after Stifel analysts urged its clients to sell its shares, which outweighed an upgrade from investment bank Berenberg. Shares fell 0.8 percent, or 80p, to 10580p.
Property firm Henry Boot has entered new territory after its development arm was granted planning permission for a major office project in Manchester city centre. Shares rose 0.8 percent, or 1.5p, to 182.5p.
Energy group Petrofac has won a three-year contract worth more than £155 million to help operate a gas field for a state-owned company in Turkmenistan. Shares rose 6.5 percent, or 1.5p, to 24.76p.