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FTSE summer rally continues

by LLB Reporter
8th Aug 22 10:07 am

The summer is supposed to be a quiet time for markets as many people are sitting on the beach, rather than glued to a screen trading stocks and shares. So far, this summer is proving to be a decent session, and one that will provide a nice surprise when people get back to their desks after a bit of sun, sand and sea.

“The FTSE 100 managed to press ahead by a further 0.2% at the start of the new trading week, meaning it has been on a positive run since mid-July. The 6% gain for the current rally to date means the UK blue chip index is less than 1% away from hitting breakeven for the year so far. That’s considerably better than the S&P 500 index in the US which is down nearly 14% year to date,” says Danni Hewson, AJ Bell financial analyst.

Meanwhile China has reported a record trade surplus thanks to strong export growth, but economists suggest the recovery from coronavirus pandemic lockdowns could be short-lived.

Exports from China rose 18% year-on-year in July, well above economists’ average expectations of a 14% increase.

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