However, Hantec Markets analyst Richard Perry cautioned investors “not to get too carried away just yet”. He said previous attempts to breach current levels in May last year and in January have failed.

Should the London index hit a record, it would be mirroring moves seen on the other side of the Atlantic. The Dow Jones and S&P 500 closed at fresh record highs on Monday, spurred by a strong rally in technology stocks that lifted the Nasdaq Composite Index by nearly 1.8pc.

The Dow rose 111.87 points to 16,695.21, while the S&P 500 gained 18.07 to 1,896.55. The Nasdaq added 71.99 at 4,143.86.

Housebuilding shares, which have surged over the last year on the back of a booming UK property market, were strong. Barratt Developments rose 3pc and Persimmon gained 2.1pc after smaller rival Taylor Wimpey said sales rates were at the upper end of its expectations.