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Wednesday, December 6, 2023

FTSE has best day on record as traders hope for US coronavirus bill

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The 100 companies on Britain’s main stock index have added more more than £113 billion to their combined value, in the FTSE 100’s best ever day of trading.

The index jumped by 452.12 points, beating the previous record of 431 points, despite poor economic data earlier in the day.

It was a rise of more than 9%, the FTSE’s second-best day on record after November 24, 2008, when it gained 9.8%.

It marks the first major rise since the outbreak of coronavirus, as US politicians prepare to pass what could prove to be a game-changing stimulus package.

The government in the US is expected to pump out as much as two trillion dollars to shore up businesses and employees.

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