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Commodities boom helps FTSE extend its gains

by LLB Editor
16th Feb 21 9:36 am

The FTSE 100 followed up Monday’s massive gains with a more modest advance as commodities surged amid hopes for a big recovery in demand as vaccines help unlock global economies, says AJ Bell investment director Russ Mould.

“Investors will be watching Boris Johnson’s scheduled statement on the easing of coronavirus restrictions closely when it is delivered at the beginning of next week but in the absence of solid news on the pace at which lockdown will be loosened, the market has decided to put on a happy face and hope for the best.

“News of falling infection rates in the US is helping to feed the optimism as the Biden administration inches towards getting its $1 trillion-plus Covid relief package through Congress.

“The only creeping nervousness at present appears to be around the prospects for significant inflation driven by a combination of the emergence from Covid, generous stimulus packages and rising raw materials costs.”

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