FTSE 100 closes above 7,000 with positive data from US, Sensex slips after opening

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Andrew Feinberg

White House Correspondent

London’s FTSE 100 rose above 7,000 once again on Wednesday recovering from earlier losses, led by mining stocks, after US data strengthened hopes of an economic rebound.

The index of leading shares FTSE 100 closed up by 116, or 1.68 per cent at 7,039, while the domestically focused FTSE 250 closed up by 55 points at 22,385.

Across the pond, stocks on Wall Street saw a mixed closing, with positive economic data pushing Dow Jones Industrial Average to record highs at 34,230, up by 0.29 per cent while the S&P 500 gained just 2 points, or 0.07 per cent, to close at 4,167. But Nasdaq Composite gave up its earlier gains and ended 51 points, or 0.37 per cent, lower at 13,582.

The Asian markets on Thursday were off to a good start with positive global cues. Nikkei 225 jumped almost 2 per cent in earlier trade, maintaining most of its gains throughout the session until noon. South Korea’s Kospi rose 0.7 per cent and is trading with a lead of 1.5 per cent. In Hong Kong, the Hang Seng index was up 1.15 per cent, however, it fell off after the early hours.

Indian indices also opened higher on Thursday, tracking positive global cues, and as the country’s Reserve Bank governor announced a slew of measures to tackle the pandemic, lifting investor sentiments. The Sensex opened 200 points up at 48,877, though it slipped after a few hours with selling in the bank stocks. The Nifty 50 was also dragged down after a positive opening and continues to trade below 14,700.