By Jonathan Davies

The FTSE 100 closed at a record high yesterday (Tuesday), beating the previous record which had stood for more than 15 years.

The share index was at 6,949.63 when trading ceased on Tuesday, up from the previous peak of 6,930.2 which was set on 30 December 1999 at the height off the dotcom boom.

Earlier in the day, the FTSE 100 also rose to a new intra-day high (not the figure taken at close) of 6,958.89, up from 6,950.6 which was also set on 30 December 1999.

The FTSE 100 had been regularly hovering around the record mark during 2014, but shares rose strongly after eurozone ministers approved reform proposals made by Greece in a bid to extend its bailout programme.

But not every one is impressed by the new record. One economist pointed towards stock markets in the US and Germany, which surpassed their pre-millennium records in 2007.

"It is hardly impressive that, more than 15 years later, the FTSE 100 has finally breached its previous record close, said Samuel Tombs, said senior UK Economist at Capital Economics.

"Both the S&P 500 and Dax 30 exceeded their millennial year peaks in 2007 and they are now about 45% and 65% higher respectively."