FTSE jumps above 7k mark as GBP hits 3-decade lows

A sharp rally in the UK stocks drove rest of Europe higher this Tuesday, as the region’s indices are headed for a six-day winning streak, the longest without losses in a year.

The European stocks advanced as the Deutsche bank saga seemed to have taken a back-seat, with the downsize in the fine charged by the DOJ offering some respite to the investors.

While the London stocks rallied for the second straight session and hit fresh 17-month high at 7,081 levels, in response to the slump in the GBP/USD pair to fresh three-decade lows, which sent the exporters’ stocks through the roof.

Meanwhile, Germany's DAX 30 index rises +0.78% to 10,592, while the UK's FTSE 100 index jumps +1.38% to 7,078. Among the other indices, the French CAC 40 index rockets +0.94% to 4,494, while the pan-European Euro Stoxx 50 index rallies 0.83% to 3,024.