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FTSE 100 edges closer to 7,000

by LLB Editor
8th Jan 21 11:58 am

The FTSE 100 continues to race back towards 7,000, a level that hasn’t been seen since February 2020 when the market was just beginning its big Covid-driven slump. Friday saw the blue-chip index advance a further 0.2% to 6,873, with gains seen across the rest of the European markets and in Asia following a very strong showing on Wall Street last night, says Russ Mould, investment director at AJ Bell.

“Oil producers remain a key driver for the index, albeit helped in the latest session by housebuilders, data-driven companies Experian and Relx, and investment trust Scottish Mortgage thanks to its big stake in Tesla which keeps delivering very strong share price gains.

“The FTSE 100 is on track to deliver more than a 6% gain on the week, a much better performance that the first week of 2020 where the index went nowhere.

“This is the positive news investors need when so many people are stuck at home during the latest lockdown.”

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