There is a definite tailwind behind stocks and market optimism remains high despite various geopolitical tensions in the US and Asia.
China reported positive data with its services sector returning to growth last month for the first time since January. Investors took this as a positive sign that the country was slowly getting back on its feet after the pandemic.
“The FTSE 100 continued to tick higher, rising another 1% to 6,281 thanks to ongoing strength in oil producers Royal Dutch Shell and BP. Also adding support to the index were insurers and banks.
“In Japan, the Nikkei’s rally put the index a mere 6% below its year-to-date high. The top risers on Wednesday were car makers Mazda, up 9%, and Nissan, up 7.5%,” says Russ Mould, investment director at AJ Bell.