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Fed and US tech help lift FTSE 100

by LLB Editor
29th Apr 21 10:28 am

Continuing strong numbers out of the US technology sector, together with the US Federal Reserve’s latest attempts to allay fears of any imminent rate rise, laid the foundations for the FTSE 100 to mount its latest assault on the 7,000 level, says AJ Bell investment director Russ Mould.

“Apple announced a bumper share buyback plan and Facebook was boosted by advertising revenue.

“On a busy day for corporate news in the UK, oil major Shell eked out modest gains suggesting investors had already largely priced its return to profit off the back of higher oil prices.

“Consumer goods firm Unilever was more buoyant having beaten expectations as people continued to reach for its brands during lockdown – perhaps tucking into some Ben and Jerry’s ice cream for comfort eating. The strong response to its first quarter update contrasted sharply with the raspberries given to its rival Reckitt yesterday.”


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