Did you catch this recent stock market rally? We sure caught this coming. Now is a great time to invest.
Booming US consumer confidence and hopes of more economic stimulus by central banks has boosted the value of the FTSE 100 Index by more than £27bn.
The London market surged 1.6 per cent – or 107.7 points – to 6762 as stock markets around the globe resumed their rally after data showed confidence in America’s vast consumer sector is at five-year highs.
Markets shrugged off last week’s fall – triggered by hints the US Federal Reserve could scale back its vast money-printing drive – as investors ploughed back into shares.
In New York, the Dow Jones Industrial Average raced ahead by 1.2 per cent in early trade after figures revealed consumer confidence had hit its highest level since February 2008.
Wall Street was also boosted by encouraging data on the US housing market.