UK’s blue-chip index continues its rally after surging 14% in 2021
The FTSE 100 hits fresh high amid signs that Omicron will not derail the global recovery
04 January 2022 - 11:30
byBansari Mayur Kamdar
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
The London Stock Exchange building. Picture: REUTERS/TOBY MELVILLE
Bengaluru — The UK’s FTSE 100 rose on Tuesday in the first trading session of the year after its best yearly gain in five years after signs that the Omicron coronavirus variant is less likely to derail the global economic recovery.
The blue-chip FTSE 100 gained 1.1% at 0805 GMT, hitting new highs since February 2020, while the domestically focused mid-cap index advanced 1.2%. Financials led gains, with banking and life insurance stocks adding 1.9% and 0.9%, respectively.
The FTSE 100 gained 14.3% in 2021, recording its best annual performance since 2016, helped by gains in commodity-linked and industrial stocks. British retailers gained 2.4%, tracking global sentiment, even though footfall in shops in the days after Christmas was 24.5% lower than the same week in 2019, Springboard analysts said.
The focus later in the day will be on key consumer credit, mortgage and manufacturing data.
Amigo Holdings fell 3.1% after the sub-prime lender revealed the early redemption of £184.1m worth of senior notes due in 2024, as part of a new rescue plan laid out last month.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
UK’s blue-chip index continues its rally after surging 14% in 2021
The FTSE 100 hits fresh high amid signs that Omicron will not derail the global recovery
Bengaluru — The UK’s FTSE 100 rose on Tuesday in the first trading session of the year after its best yearly gain in five years after signs that the Omicron coronavirus variant is less likely to derail the global economic recovery.
The blue-chip FTSE 100 gained 1.1% at 0805 GMT, hitting new highs since February 2020, while the domestically focused mid-cap index advanced 1.2%. Financials led gains, with banking and life insurance stocks adding 1.9% and 0.9%, respectively.
The FTSE 100 gained 14.3% in 2021, recording its best annual performance since 2016, helped by gains in commodity-linked and industrial stocks. British retailers gained 2.4%, tracking global sentiment, even though footfall in shops in the days after Christmas was 24.5% lower than the same week in 2019, Springboard analysts said.
The focus later in the day will be on key consumer credit, mortgage and manufacturing data.
Amigo Holdings fell 3.1% after the sub-prime lender revealed the early redemption of £184.1m worth of senior notes due in 2024, as part of a new rescue plan laid out last month.
Reuters
JSE to start to mixed Asian markets on Tuesday
Gold ticks up after taking a 1.5% knock
Asian stocks power higher on US blast-off
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Related Articles
Global markets start 2022 on upbeat note
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.