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FTSE100 hits a one-year high as S&P 500 puts in best day of ’09
THE FTSE100 index of blue-chip UKstocks closed at a one-year high yesterday as the energy and mining sectors rallied strongly.
Firmer commodity prices and growing optimism on the corporate outlook and global economy were behind the boost.
The FTSE 100 closed up 48.30 points, or 0.9 per cent, at 5,210.17, its highest close since September 2008 when the market tumbled following the demise of Lehman Brothers.
The strong day in London was followed by gains on Wall Street.
The Standard & Poor’s 500 index of the biggest USfirms put on a sixth consecutive day of gains, ending at its highest close in 2009 so far. The S&P500 gained 4.70 points, or 0.44 per cent, to close at 1,076.19.