FTSE 100 soars to its highest level before lockdown in March: Stock market rises 2.6% and is up 168 points to 6,670 in first day of trading since post-Brexit trade deal was agreed

The London stock market soared to a nine-month high today as investors gave a thumbs-up to Britain’s post-Brexit trade deal with the European Union. The FTSE 100 was up by 2.58 per cent or 168 points to 6,670 this morning, in its first day of trading since the dramatic agreement was reached on Christmas Eve. This means the FTSE is at its highest level since the close on March 5 of 6,705, which was when markets were gripped by fear over Covid-19 but before the first lockdown was announced on March 23. Its highest close this year was 7,675 on January 17. The benchmark index of Britain’s biggest companies increased during the period dubbed the ‘Santa Claus rally’ when stock markets tend to rise at the end of the year. This is thought to be down to investors becoming more optimistic, increased consumer spending and smaller volumes of trading with many people on holiday. The FTSE 100 held most of its gains up to lunchtime, before closing up by 1.55 per cent or 101 points on the day at 6,603 this afternoon.  Both key eurozone markets have also returned with bumper gains, buoyed by a $900billion pandemic recovery package agreed in… Read full this story

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