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FTSE100 rises to new high, fails to hold on to gains

The FTSE 100 burst through the 6,930.20 closing record this morning, hitting 6,943.61 before falling back. It managed to get within seven point of the all-time intra-day record of 6,950.6.

Markets were buoyed by an improving situation around Greece after the government was granted an extension on its bailout agreement with the Eurozone.

Greek Prime Minister Alexis Tsipras delivered a triumphant speech following the bailout extension, but warned his country faces “a long and difficult road” ahead. The deal is expected to be ratified today.

But in a quiet session for economic news, the 17% slump in profits at HSBC was enough to drag shares lower. The FTSE100 fell 3pts to close at 6,912.16.

Furniture retailer DFS priced its shares in its forthcoming IPO at between 245p and 310p valuing the company at the mid-point at £585m; company to raise £98m.

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