The index ended just below the 14-year high scaled this month and was less than 2 per cent away from a record peak set in 1999.
Analysts said the positive momentum following mergers and acquisitions (M&A) talks could help the index to set a new record high in the near term.
"The improving economic backdrop and the pick- up in business confidence are likely to be supportive for a pick-up in M&A activity," said
Although Stryker denied it was planning a bid, traders said the return of takeover speculation would continue to support
Bankers have said a failure to merge with
Despite gains in the broader market, some analysts advise caution. "If you look back at most stock-market cycle highs, you'll see a raft of IPO's and M&A activity typically signalling the top of the market,"