FTSE 100 closes with another record high

London's top-flight index has closed at a record high for the second day running thanks to a rally from precious metal stocks. 

The FTSE 100 Index rose 14.18 points to hit a new high of 7120.26, after the traditional Santa Rally helped it reach a record closing high of 7106.08 in the previous session.

It comes after the top flight hit a mid-session record of 7129.83 on October 11, boosted in part by the collapse in the value of the pound since the Brexit vote.

Sterling's post-referendum slump has proved a boon for multinational companies listed on the FTSE 100, as many tend to benefit from earnings in currencies that are stronger than the pound.

Gold miners Randgold Resources and Fresnillo led the charge on the London market, climbing more than 4%.

The rally was spurred by the price of gold, which rose 1.3% to 1156.9 US dollars an ounce.

The new record on the London market came amid thin trading volumes and a number of blue chip stocks going ex-dividend - a process where new buyers no longer qualify for the latest dividend payment.

Among the ex-dividend stocks were Dixons Carphone down 1% and data services company Experian dropping 0.1%. 

Across Europe, Germany's Dax and the Cac 40 in France were both 0.2% lower. 

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