FTSE 100 soars to yearly peak
On Monday, British stocks managed to gain ground, getting to another new yearly peak as miners got support from buoyant metal prices.
The FTSE 100 surged 0.2%, reaching 6,588.03, though losses for financial as well as consumer services stocks restricted the benchmark’s advance.
On Friday, the blue-chip index on Friday went up 1.1%, trading at 6,577.83, the second consecutive record peak for the year. Monday’s win would mark the London benchmark’s fifth soar in a row.
The previous week, the FTSE 100 edged up 7.2%, demonstrating its greatest weekly revenue since early December 2011, as FactSet states. The recovery from a steep Brexit-fueled dip kicked in as the British government demonstrated just a tiny sign of triggering Article 50, the beginning of formal talks for the country to abandon the European Union, after the June 23 vote.
The British pound has bounced a little early today, though a sense that safer haven plays is going to retain with the yen and gold going up.