![]() "There are still worries which could erupt about ebbing consumer resilience in the months to come on both sides of the Atlantic," she added. The shift to renewables, which has accelerating partly due to the war in Ukraine, as nations wean themselves off Russian energy, will require huge resources of metals and minerals which should also provide longer-term demand." "Confidence has rebounded as investors eye up China’s reopening, which has helped commodity stocks amid expectations that demand will surge. The make-up of the index, heavily weighted towards globally-focused commodities, utilities, financials and consumer giants is proving particularly attractive. “In the financial sector, Standard Chartered has outperformed the FTSE 100 amid the backdrop of rising interest rates which has boosted its earnings potential through higher net interest margins.” 4.25pm: Peak practicedĬommenting on the Footsie's new intra-day record, Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown said: "The FTSE 100 has clearly got its mojo back after a difficult period when investors appeared to have fallen out of love with UK assets. Commodity price inflation has provided a tailwind for miners such as Glencore and Antofagasta which are also benefiting from China’s dismantling of its covid-era restrictions. Energy price inflation has helped oil and gas giants like BP, Shell and Centrica enjoy major share price gains, landing these companies near the top of the leader board. She noted: “Increased demand for defence spending helped catalyse share price gains for BAE Systems, which is the second-best performer over a one-year period on the FTSE 100. The FTSE 100 is an outward-looking index which has enjoyed gains thanks to certain sectors which have benefitted from rising energy prices and interest rates." The UK large-cap index has sharply outperformed the mid-cap FTSE 250 index over the last year which has been much more closely correlated to the UK’s economic and political uncertainty. Ĭelebrating the achievements, Victoria Scholar, head of Investment, interactive investor, said: “Despite last year’s equity market volatility and a slowing global economy, the FTSE 100 is defying the doom and gloom, hitting an all-time high, surpassing its peak from before the pandemic in May 2018. The FTSE 100 index reached new all-time records on Friday boosted by strength in its preeminent dollar-earnings constituents as the US currency got a boost from a much stronger-than-expected January US payrolls report which heightened expectations the Federal Reserve will remain hawkish on interest rates in spite of its more moderate comments on future hikes following this week's rate rise.Īt the finish, the UK blue chip index was up 81.64 points, or 1.0% at 7,901.80 above the old closing high of 7,877.45 hit on, but was below the new intra-day peak of 7,906.58 which had surpassed the previous intraday peak of 7,903.5 also hit on. Nasdaq joins Dow in positive territory, S&P 500 still lower. ![]() FTSE 100 set new intra-day peak of 7,906.58.
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