The FTSE 100 is at an 11-month high

The FTSE 100 closed up 0.42% at 6,697.00 on Monday, its highest close since August 2015.

The London-based index has been rising steadily in the wake of the shock Brexit referendum result as many on the companies listed there report earnings in dollars. The pound has been diving against the dollar since the EU referendum meaning that lots of these companies are now comparatively earning more.

The FTSE 100 hit an 11-month high last Monday but topped it today thanks to a blockbuster rise for UK microchip designer ARM Holdings. ARM rocketed over 40% after Japan’s SoftBank made a £24 billion ($32 billion) takeover offer.

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