FTSE 100 surges to nine-month high in first day of trading since end of Brexit transition

The FTSE 100 gained more than 200 points in its first day of trading after the Brexit transition period ended. The more than 3 percent rise was followed by increases of 1.9 percent and 1.3 percent in the French and German main indexes.

Connor Campbell, an analyst at Spreadex, said: "Despite the rapid increase in daily COVID-19 case numbers and the impending need for a new national lockdown - be it immediately, as urged by Keir Starmer, or in a couple of weeks, as suggested by Boris Johnson - the FTSE was the most bombastic of the major indices after the bell.

"These gains can be tied to the rollout of the Oxford/AstraZeneca vaccine in the UK - the continuation of 2021's great hope for ending the coronavirus pandemic.

"It is another step on the journey back to normality, and investors have seized upon it with all their might."

The expert suggested the boost may signify the first time investors are fully reacting to news of the Brexit trade deal struck with Brussels at the end of last year.

READ MORE: Pound euro exchange rate to 'perform well' in 2021

He said: "Maybe today is the first full-throated session for investors to fully react to the Brexit trade deal."

The top market was also clearly helped by a soaring Entain share price.

The Ladbrokes and Coral owner said on Monday that it had rejected an £8.1billion offer from US casino giant MGM Resorts. Shares rose 26 percent on the news.

Neil Wilson, a Markets.com analyst, said that UK firms are benefiting by a liberalisation of the US gaming market.

He said: "We should also note that good global businesses trading with a UK-listed discount to the share price remain attractive to foreign groups hungry for growth. Clarity around Brexit at long last may see more bids of this nature emerge."

It comes as an 82-year-old retired maintenance manager has become the first person in the world to receive the Oxford University and AstraZeneca vaccine outside clinical trials.

Dialysis patient Brian Pinker received the jab at 7.30am on Monday from nurse Sam Foster at Oxford University Hospitals NHS Foundation Trust's Churchill Hospital.

Mr Pinker, who has been having dialysis for kidney disease at the hospital for a number of years, was pleased to be getting protection against coronavirus.

He said the jab will give him peace of mind as he continues to receive treatment, and he is now looking forward to celebrating his 48th wedding anniversary in February.

"I am so pleased to be getting the Covid vaccine today and really proud that it is one that was invented in Oxford," Mr Pinker said.

"The nurses, doctors and staff today have all been brilliant and I can now really look forward to celebrating my 48th wedding anniversary with my wife Shirley later this year.

"The vaccine means everything to me, it's the only way I'll be getting back to normal life. This virus is terrible, isn't it?

"They should (get vaccinated). I mean it's a no-brainer. They need to come, don't they?

"I'm very pleased that I've got the Oxford vaccine, very pleased. I was a bit daunted by it, really. It took me long enough to be a star, didn't it?"

Post a Comment