London’s financial landscape is once again buzzing with excitement as the FTSE 100 index resumes its upward trajectory.
Rewind to 2021, and the FTSE 100 was breaking records, crossing the 7,000-point milestone amidst a whirlwind of global economic shifts. While meme stock madness gripped the US markets and new players emerged on NASDAQ, London’s stalwart firms were making their own waves.
Fast forward three years and speculation of the FTSE 100 breaching 8,000 points has been a recurring theme. Today, the spotlight is firmly on the index as it kicks off the trading session on a high note. Early reports hint at a potential rally continuing throughout the week, signalling optimism in the air.
As the clock strikes 8:30 am UK time, FXOpen pricing reveals the FTSE 100 soaring to 8,195.4, building upon last week’s momentum. Anglo American sees a 2% surge, with shares climbing 64p to 2707p, fueled by anticipation surrounding BHP’s strategic moves post the rejection of a £31 billion takeover bid. Meanwhile, Frasers Group enjoys a 2% uptick, with shares rising by 19p to 815p, buoyed by a new buyback initiative and a bullish “Buy” recommendation from Deutsche Bank, which sets a target price of £1.
The enthusiasm for blue-chip stocks paints a positive picture for Britain’s financial markets, injecting vitality amid a sluggish domestic economy.
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