FTSE 100 index closes at all-time record high

German Bunds fall ahead of Eurozone’s Q1 Gdp, April Consumer Inflation

The FTSE 100 has managed to set another record intra-day high.

Germany's DAX performance index also traded at a fresh all-time high of 12,822.54 points in the opening 15 minute of trading as investors reacted to a surprisingly solid win for Chancellor Angela Merkel's CDU party in a regional election in North Rhine-Westphalia, the country's biggest state.

Inflation reading: A report on inflation in April due later is expected to show a rise to an annual rate of 2.5%, according to a FactSet consensus of view.

On the foreign exchanges, the pound lost ground after the release of the latest United Kingdom inflation figures.

But the announcement of a snap General Election for the United Kingdom prompted a recovery in the value of the pound versus the dollar last month, hitting values.

The small caps index also scaled a fresh record high, up 0.2 percent with semiconductor maker Nanoco Group the top gainer, up 7 percent.

Gains among oil stocks, however, were offset by a fall in healthcare shares, which were dragged by a 1 percent decline in Novartis.

Oil prices jumped more than two percent after top exporter Saudi Arabia and Russian Federation said supply cuts needed to last into 2018, a step towards keeping an OPEC-led deal to support prices in place longer than originally agreed.

Kuwait joined the call on Tuesday ahead of an Opec meeting on May 25.

At the other end of the index, budget airline EasyJet is more than 5% lower after confirming on Tuesday that it made a pre-tax loss of £212 million, well above the £21 million loss it recorded in the first half of a year ago but in-line with its guidance. The housebuilder said that average selling prices hit £418,000 in the six months to April 30, but the sales rate per site dropped from 0.9% to 0.8%.

The pan-European Stoxx 600 index ended little changed, while France's CAC fell 0.2 per cent. The airlines said weakness in sterling against the dollar and euro shaved GBP82 million off the bottom line.

Vodafone (VOD) has driven the FTSE 100 to a new record high, as investors flocked to the telecommunications giant following a rise to the dividend. British airline EasyJet dropped 7.25 percent, and Micro Focus International, a British software and information technology business, fell 3.04 percent.

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