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The FTSE 250 edged up to a new record high in early trading on Monday, as stock markets across the continent rose on a quiet day for corporate results.

The mid-cap index hit an intraday high of 18,746 at the start of trading, having ended last week at a record close of 18,715.

The FTSE 250, which is made up of mostly UK-focused companies, advanced in recent weeks despite the more international FTSE 100 index slipping back.

However, Monday’s gains came alongside a more general rise in European equity markets, as renewed optimism about tax cuts and growth in the US boosts riskier investments like stocks at the expense of haven assets.

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