FTSE 100 charges onwards
|Markets are back in rally mode as investors gird themselves for Nvidia's earnings, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
FTSE 100 marches on to 11,000
There seems no stopping the FTSE 100. Another week like this and the index will top 11,000, just weeks after it first crossed the magic 10,000 level. It has the winning combination for investors right now – a lower valuation than pricey US markets, and key sectors driving that are much less vulnerable to AI-driven panic selloffs. Mining, defence and banking have all yet to be touched by an AI competitor, while its pharma stocks provide further heft and dividend payments too. It might be smaller than Nvidia, but it continues to charm global investors.
Bitcoin climbs 5%
Hopes of a bitcoin revival are running high again as the price enjoys its best day in about three weeks. The risk-on sentiment we are seeing in spades across indices was bound to spill over into this beaten-down asset, but even the highs of late January still seem a long way off.
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