FTSE surges past 6,000 to reach 18-month high

clock

Strong data from China and a deal to avert the US fiscal cliff have helped push the FTSE 100 past the 6,000 mark for the first time since July 2011.

US lawmakers' package to avert stringent budget cuts and positive manufacturing data out of China gave equity markets a boost on the first day of 2013 trading, the FTSE 100 initially rising 80 points to 5,980 at the open. Those gains were then extended as UK-listed miners led the rally, the index standing up 2% at 6,016 by mid-morning as better than expected UK manufacturing data also helped bolster sentiment. That represented the FTSE's highest level since the 6,084 reached on 8 July 2011. Resources companies Evraz, Eurasian, Rio Tinto and Vedanta all rose by between 5% and 6%, wi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Five years on from Covid: What's next for markets?

Five years on from Covid: What's next for markets?

It is now five years since the start of the UK’s Covid lockdown. Since then, we have seen considerable market and geopolitical-related change. Here, William Marshall looks back over the past five years and also explores what we might expect from markets...

William Marshall
clock 06 May 2025 • 4 min read
Gilt yields fall after Donald Trump backs down in 'tariff war'

Gilt yields fall after Donald Trump backs down in 'tariff war'

US president pauses most additional tariffs

Jonathan Stapleton
clock 10 April 2025 • 2 min read
Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read