Home Business News FTSE leaps more than 100 points

FTSE leaps more than 100 points

by LLB Editor
4th Feb 20 9:39 am

The FTSE 100 has climbed 1.40% this morning to rise 102.61 to 7,428.75 as it contionues to rally after last week’s coronavirus-related losses..

The wider FTSE 250 has climbed a similar amount. It’s up 1.15%, or 243.47 points, to 21,404.73.

“The FTSE 100 made a significant recovery on Tuesday with the resources sector, one of the worst affected by China’s coronavirus outbreak, leading the way. The index jumped 1.5% to 7,437.

“The weaker pound helped as Boris Johnson outlined a hard-line stance to trade negotiations with the EU. Better-than-expected numbers from index heavyweight BP also contributed to a better mood after a difficult couple of weeks for the markets.

“European markets saw gains in the region of 1% to 1.2% while stocks in Asia also advanced. The Hang Seng index in Hong Kong moved 1.2% higher and Shanghai’s SSE index moved up 1.3%.

“Among commodities, Brent Crude oil traded 1.3% higher at $55.16 per barrel. The pound fell 0.07% against the US dollar to $1.2988,” says Russ Mould, investment director at AJ Bell.

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