London equities continued to sizzle in the summer heat on Thursday as hopes of a cut in interest rates pushed the mid-cap index to an all-time high.

The FTSE 250 closed 0.5 per cent, 38 points, higher at 7381.7, beating its previous high in February this year. The mid-cap index has risen 6.4 per cent this year, marginally outstripping the 6.2 per cent rise for the FTSE 100.