Appetite for risk increases as FTSE nears 6,200

The FTSE 100 continues to make gains as risk appetite returns, approaching the 6,200 mark last seen in mid-to-late July,” says AJ Bell investment director Russ Mould.

“Continuing hopes for a vaccine and the prospect of a big stimulus package in the US are enabling investors to look past the global coronavirus crisis to the sunny uplands of recovery.

“The worst quarterly fall in output since records began in the UK and the resulting slide into a deep recession was met with a shrug – the pound pretty stable against other major currencies – as it had been widely anticipated.

“Gold prices began to tail away amid the improving sentiment, falling from their $2,000 per ounce high water mark.