FTSE makes gains as Archegos worries ease

Two recent worries for the market seemed to have eased on Tuesday with the Suez Canal finally unblocked and concern over the Archegos family office saga beginning to die down,” says AJ Bell investment director Russ Mould.

“This is allowing markets to focus on President Biden’s latest plan to revive the US economy – a massive wad of infrastructure spending.

“The FTSE 100 was certainly putting on its happy face, driven by resources and financial stocks.

“Can the markets close out what has been a volatile but ultimately positive first quarter so far? There are some continuing signs of market stress as bond yields tick up.

“There could also yet be sting in the tail from the Archegos affair – episodes involving over-leveraged hedge funds often wreak more damage than first anticipated.”