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FTSE rises as Fed chief plays down rate hike concerns

by LLB Editor
25th Feb 21 10:57 am

The FTSE 100 enjoyed a strong start on Thursday buoyed by comments from the chair of the US Federal Reserve which sought to allay market fears about the prospect of rising inflation leading to interest rate hikes,” says AJ Bell investment director Russ Mould.

“Crude oil prices remained strong amid optimism over a Covid recovery with other commodities surging ahead; this supported some of the big names in the resources sector, further bolstering the FTSE’s advance.

“And if you thought the GameStop saga was over, well think again. The shares surged 100% overnight in a sign that January’s Reddit-inspired trading frenzy might be about to return.”

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