FTSE crosses 7,100 despite anxious wait for inflation data 10 Jun, 2021 at 10:12
The FTSE 100 sneaked past 7,100 this morning despite investors anxiously awaiting US inflation data for clues as to the direction of central banks’ monetary policy.
The blue-chip index was up 0.3%, or 21 points, at 7,102 by mid-morning, ahead of not only a European Central Bank (ECB) policy meeting but the latest inflation reading from the US.
The spectre of rising prices has been weighing on markets and the two events today may provide investors with a steer on whether central banks will start to tighten their monetary policy and when they might hike interest rates.
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A year ago the stock market was in crisis. Covid-19 was raging globally and investors could only watch as their nest eggs plunged in value.
But 12 months after global markets fell 30 per cent, most investments have bounced back. It has been a bumpy ride, but there s light at the end of the tunnel.
Savers have also squirrelled away a record £153 billion in lockdown after spending was restricted by the closure of offices, shops, restaurants and pubs.
Recovery ahoy: 12 months after global markets fell 30 per cent, most investments have bounced back. It has been a bumpy ride, but there s light at the end of the tunnel