Stocks are rising in London today, lifting the FTSE 100 nearer to its pandemic high.
The FTSE 100 is now up 21 points, or 0.3%, at 7394 – putting November’s 20-month high of 7402.68 points in sight.
Victoria Scholar, head of investment at interactive investor, said: “With US, German, Italian and Swiss markets closed, the FTSE 100 has opened with a small move to the upside amid much thinner than normal volumes as the festive week rounds up and on risk-on sentiment.
The UK index is enjoying its fourth day of gains, trading at six-week highs and inching closer to the next major resistance hurdle at 7,400. It is better late than never for the Santa rally, which helped drive gains for US indices yesterday with the S&P 500 closing at a record high up 2.27% on the week while tech outperformed with the Nasdaq closing the week up 3.19%.”