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Recovery hopes lift FTSE to fresh post-Covid highs

by LLB Editor
7th May 21 12:06 pm

At the moment the pendulum has swung in favour of economic recovery for the markets and the FTSE 100 has some new-found momentum, briefly trading above 7,100 for the first time since February 2020, says AJ Bell investment director Russ Mould.

“This might lead some investors to begin eyeing the record high of the index close to 7,900 in May 2018.

“The results of the Scottish elections should start to come in over the course of Friday and Saturday with potentially significant implications for the currency markets.

“An outright majority would be seen as a mandate for the SNP to call a second independence referendum – prompting uncertainty and likely hitting the relative value of the pound.

“Across the pond focus is likely to be on the latest US jobs report after shares reached new record highs on Wall Street yesterday.”

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