The FTSE 100 is in the green for the third day in a row, up by 0.2% after a couple of hours of trading on Thursday morning. The index now stands 6,900, its highest price since February 2020, before the pandemic.
This was a result of calming words from the Federal Reserve according to Connor Campbell, financial analyst at Spreadex.
“A dovish set of meeting minutes from the Federal Reserve has further reassured investors that Jay Powell and the gang won’t be turning off the stimulus taps any time soon,” Campbell said.
“Much of this is down to selective hearing on behalf of the FTSE, indulging in things like the IMF’s revised global growth forecasts, and a general sense of optimism surrounding the UK’s post-covid comeback, while ignoring warnings about a vaccine rollout slowdown and the blood clot concerns surrounding the use of the Oxford jab on under-30s,” Campbell added.
Sterling has borne the brunt of those vaccine fears, though avoided another wobble this Thursday. Against the dollar it rose 0.2% to $1.3764, while against the euro it crept up 0.1% to €1.1585.
FTSE 100 Top Movers
Johnson Matthey (3.18%), Aveva Group (3.06%) and Intertek (2.24%) are the top movers on the FTSE 100 at mid-morning trade on Thursday.
At the bottom, Aviva (-3.70%), IAG (-2.18%) and Smurfit Kappa (-2.15%) have been the day’s biggest fallers.