FTSE 100 hits pandemic high before Santa rally fades – as it happened | Business
Shares of heavyweight banks including HSBC, Barclays, Standard Chartered and Lloyds Group have all benefited after the Bank of England raised its interest rate to 0.25% from a record low of 0.1% (last week) for the first time since the pandemic.
“The FTSE 100 has not had as stellar a year as some, but the recovery of 7,400 today puts it in good stead for the year ahead,” said Chris Beauchamp, chief market analyst at IG Group.
“A run at the pre-pandemic highs could still be possible if Omicron concerns can be kept under control and earnings continue to recover in the fashion they have throughout 2021.”
The mid-cap index was subdued at the close on Friday but logged its strongest week since early August, as travel and leisure stocks rose strongly in December.