FTSE 100 quar­terly rise is best in 10 years

The Daily Telegraph - Business - - Front Page - By Louis Ash­worth

THE FTSE 100 chalked up its big­gest quar­terly rise in a decade as in­vestors bet on a rapid re­bound from the coro­n­avirus cri­sis fol­low­ing a mas­sive wave of sup­port from cen­tral banks and tax­pay­ers world­wide.

Lon­don’s blue-chip in­dex rose 8.8pc over the past three months as stocks clawed their way back from a bru­tal crash in March when the pan­demic hit.

A fi­nal-day fall of 1pc took the edge off the in­dex’s gains, but the FTSE 100 still scraped its best per­for­mance since 2010 by a whisker.

Euro­pean shares have en­joyed a sim­i­lar bounce­back in the past few months, with the pan-con­ti­nen­tal Stoxx 600 notch­ing up its big­gest quar­terly gain since the start of 2015.

Shortly af­ter the clos­ing bell in Europe,

Wall Street’s bench­mark S&P 500 was on track for its best quar­ter since 1998 – up 19pc.

Much of in­vestors’ en­thu­si­asm is thought to have been driven by un­prece­dented spend­ing to keep the world econ­omy afloat, with the US fed­eral gov­ern­ment un­veil­ing $2 tril­lion (£1.6 tril­lion) of sup­port in March.

How­ever, there is still a long way to go be­fore shares hit pre-Covid lev­els.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.