The FTSE 100 rose above 7,000 this morning for the first time since the end of last February, shortly after the pandemic triggered sharp falls in global stock markets.
The index rose for the fourth session in a row, adding another 46.02 points, or 0.7 per cent, to reach 7,029.52. It was led higher once again by its travel, banking and mining companies, which have been revitalised over winter in anticipation of a sharp bounceback in the global economy.
IAG, the British Airways owner, rose 5½p, or 2.6 per cent, to 212¼p; the high street bank Barclays rose 4½, or 2.5 per cent, to 189¼p; and the Russian steelmaker Evraz gained 12p, or 2.0 per cent, to 626p.
Ivan Sedgwick, investment director at the boutique finance house LGB & Co, said: “With the FTSE’s big weighting in resource stocks and financials, and its exposure to old economy companies, it isn’t … Read the rest