FTSE gains after better news from US
London’s leading companies continued to drive a stock market recovery today after better economic news from the US lifted global exchanges.
The FTSE 100 Index gained almost 100 points in early trading – taking the benchmark index back above the 5,901.7 level at which it began a week of turmoil.
Wall Street’s Dow Jones Industrial Average made gains after better than expected US jobs data and approval of a $150bn (€102bn) tax break package to spur the world’s largest economy. The optimism spread to Asian exchanges, with gains in Hong Kong and Tokyo.
In London, the Footsie stood 1.4% higher at 5955.6, adding to yesterday’s 4.8% gain as more positive sentiment lifted the market.
Martin Slaney, head of derivatives at GFT Global Markets, said: “After an undeniably extraordinary week for the markets, we face the real possibility of finishing up on the week. You would have got good odds for that on Monday.”
