Britain’s FTSE 250 index recorded its longest run of record closes in two years and Wall Street’s three main stock market indices set new intraday peaks as miners rallied and the so-called ‘Trump trade’ roared back to life.

The mid-cap index, which is more exposed to the domestic UK economy, climbed 43.42 points, or 0.2pc, to 18,758.78, marking its fifth successive closing high and its longest run of record peaks since March 2015, while the UK small-cap index also set a fresh all-time high.

Copper prices surged to a 20-month peak amid supply concerns, prompting a rally in FTSE 250 mining firms Ferrexpo and Evraz.