Bitcoin rose above $44,000 for the first time since April last year.
On a good day for investors with an appetite for riskier assets, the world's largest cryptocurrency continued its recovery after crashing from a peak of nearly $70,000 in late 2021 to less than $16,000 last year.
Bitcoin rose to $44,497 yesterday, bringing its gains for the year to almost 170 percent.
The rally – as investors bet on rate cuts – led to speculation among some more excited analysts that Bitcoin could reach $100,000 by the end of next year.
But as crypto soared, oil prices hit their lowest levels since late June on fears that a slowdown in the global economy will hit demand.
Crypto revival: Bitcoin continued its recovery after crashing from a peak of nearly $70,000 in late 2001 to less than $16,000 last year
Brent crude fell nearly 4 percent to a low of $74.11 a barrel, down from near $97 just over two months ago.
Back on the stock market, the FTSE 100 rose 0.3 percent, or 25.54 points, to 7,515.38 and the FTSE 250 gained 1 percent, or 179.2 points, to 18,66.73.
Thanks to a recovery in metals prices, Anglo American led a rally among mining stocks. Shares rose 2 percent, or 44p, to 2,199p, while Antofagasta added 1.2 percent, or 17p, to 1,434.5p and Rio Tinto grew 1.3 percent, or 72p, to 5,492p.
Weir was among the top gainers (up 1.6 per cent, or 29.5p, to 1894p) after the engineering technology company upgraded its 2026 margin and cost savings targets.
And Paragon Banking rose high in the midcap rankings.
It came as the British mortgage lender's profits rose by a quarter to £278 million in the year to the end of September.
The group's net interest margin – the difference between what it charges borrowers and what it pays savers – was higher than expected due to the impact of interest rate increases.
With the company in a strong position, Paragon increased its dividend and launched a £50 million share buyback. Shares rose 8.4 percent, or 41p, to 532p.
Ocado's rollercoaster year showed little sign of slowing down.
The latest gain came as JP Morgan upgraded its rating, pointing out that the number of customers who regularly shop at the online supermarket is growing.
The investment bank added that Ocado's retail division is trading well despite pressure on household spending. Shares rose 2.4 percent, or 14.2p, to 612.2p.
Diageo sank into the red after UBS cut its price target by 1,000p and downgraded its rating from 'neutral' to 'sell'.
It comes just weeks after the company behind Baileys, Johnnie Walker and Guinness warned that weak sales of Scotch whiskey in Latin America and the Caribbean will hit profits. Shares fell 1.4 percent, or 38p, to 2774.5p.
Landscaping group Marshalls has chosen a new CEO. Matt Pullen, the chief operating officer at plastic pipe systems company Genuit (down 0.1 per cent to 346 pence), will start in March as outgoing boss Martyn Coffey leaves after 10 years in charge. Shares fell 0.3 percent, or 0.8p, to 247.4p.
There was little to cheer about for Future after JP Morgan cut the magazine publisher's target price from 1,900 to 1,685 pence.
The company behind Marie Claire, Country Life and FourFourTwo hopes that the annual results will be positively received by the city tomorrow. The shares, which have fallen almost 40 percent this year, are down 5.4 percent (or 43p) to 752p.
Contracts won by Redde Northgate helped the car rental company's revenues rise 30.9 percent to £911.3 million in the first half to the end of October.
The group, which also provides other services such as repairs and maintenance, expects profits for the year to the end of April to be 'modestly higher' than market forecasts as demand increases and car supply normalises.
Shares rose 5.6 percent, or 20p, to 379.5p.
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