FTSE 100 enjoys best day in almost two years
|Today saw the FTSE 100 soar, in its best one-day move since February 2024, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
FTSE 100 rampages to a new record high
Yesterday it was the Dow Jones and Dax at record highs, and today the FTSE 100 has joined the party, barely a week after its last record high. Much of the positivity stems from a bounce for GSK and AstraZeneca, rallying after the former’s news this morning, while Next continues to enjoy a recovery after a tough few months. European inflation data has been a big player too however, giving hope that the ECB will join the easing campaigns being waged by the Fed and BoE, adding to the impression that worries about earnings will be countered by supportive monetary policy.
Geopolitical worries cast aside
If the Western alliance is about to fracture, it doesn’t appear to worry stocks on either side of the Atlantic. Worries about that and high stock valuations have failed to halt the rally, with bubble fears having been left behind in 2025 for the moment. Earnings estimates for the coming season have remained robust, pointing towards optimism among investors, while a new record for stock market breadth shows that the rally remains broad-based.
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