FTSE 100 Gains as European Shares Witness Broad-Based Surge

April 15, 2021 08:13 PM AEST | By Abhijeet

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FTSE 100 Gains as European Shares Witness Broad-Based Surge

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Summary

FTSE 100 extended the gains in the late morning deals after opening higher

Among European markets, Switzerland’s SMI rose the most after FTSE 100

Dow futures soared 0.40 per cent, also supported the market-wide gains

The headline FTSE 100 extended the gains in the late morning deals after opening higher on Thursday, 15 April, in-line with the broad-based upswing among all the major European markets, with Switzerland’s benchmark SMI leading the charge.

According to the latest data available with the London Stock Exchange, FTSE 100 was trading at 6,973.59 (1006 BST), up 0.49 per cent from the previous close of 6,939.58. The other broader indices FTSE 350 and FTSE All-Share traded in a much similar fashion, while the gains of FTSE 250 were capped up to 0.45 per cent.

Among the European markets, the Market Index of Switzerland, SMI rose 0.38 per cent to 11,198.79, FTSE MIB of Italy added 0.15 per cent to 24,612.52, Spain’s IBEX 35 went up by 0.22 per cent to 8,607.50, France’s CAC 40 jumped 0.33 per cent to 6,229.03, while DAX of Germany advanced 0.28 per cent to 15,251.39.

The June futures linked to the Dow Jones Industrial Average soared 0.40 per cent, also supported the market-wide gains across Europe.

The present day’s appreciation in the equities has been largely sustained, indicating a fresh wave of regathered optimism amidst the market participants. Meanwhile, the Bank of England is slated to unveil the BoE Credit Conditions Survey later today.

With all the macroeconomic data scheduled for the present week released, the investors are now looking forward to the upcoming indicators, including the inflation rate for March, Gfk consumer confidence for April, the unemployment rate for February and employment change for January.

The government is likely to uncover the vaccination statistics up until the middle of April anytime soon. The persistently lowering rate of hospital admissions and the increasing number of immunised people can steer a fresh wave of buying in the London equities.

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