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The FTSE 100 index reached its highest level since February 2020 at Christmas, inspired by the recent international conference as another concern over the various species of Omicron coronavirus emerging in the markets.
The UK’s largest benchmark rose to 0.4% to 7,403.65, the highest point since the market began with the coronavirus in early 2020. already close.
The UK economic recovery from the downturn has been sluggish. Unlike other major global figures, the FTSE 100 is set to return in early 2020, and is deeply ashamed of the 7,903.50 constant threat that hit 2018. In contrast, the S&P 500 recovered losses by August last year and has been recording. history since then. Eurozone Stoxx 50 and Japan’s Nikkei 225 have also exploded their pre-Covid peaks in recent months.
The UK’s success is due to the lack of growing companies that have contributed to the continuous rise of US stocks. Instead, the FTSE – which is overseen by mining operators, oil companies, and banks – focuses on so-called “valuable” assets, which tend to perform well during strong global growth.
The constant threat from coronavirus, more recently as Omicron, has turned stocks, according to Luca Paolini, chief technical officer at Pictet Asset Management.
“Next year, if you have a period of incredible global growth, then profits will return,” Paolini said. “That means the UK is back.”
The FTSE’s positive end of the year – up 1.4 percent this week – follows a period of trading. The index came down at the end of November after the discovery of Omicron and went back and forth as the trend spread rapidly in the UK and elsewhere.
A recent meeting shows investors’ confidence in the recent resumption of Covid-19 – which has not prevented the Bank of England from raising interest rates for the first time since the outbreak began earlier this month – will not affect economic growth.
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