FTSE 100 quarterly rise is best in 10 years
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.