The FTSE 100 rallied on Monday morning, signalling the start of the market’s annual ‘Santa Rally’ in the run-up to the Christmas weekend.
Driven by risers like infrastructure group 3i, up 2.30 percent and Hunting plc, up nearly 4 percent, the FTSE 100 struggled its way higher in the early hours of trading. The FTSE has continued to suffer this year as uncertainty about Europe continues to pervade the markets, down 0.75 percent in the seven weeks to Monday.
However Monday’s rise could mean the start of the traditional ‘Santa Rally’, a rally in the FTSE 100 seen most winters in the run up to Christmas. The FTSE 250 is also trading up 1.27 percent.
Markets across the globe are doing well by mid-morning trading on Monday, with the S&P 500 up 0.90 percent and Euro Stoxx 50 up 1.17 percent.