Monday 12 July 2021 5:23 pm

US stocks scale to new record highs

US stocks reached another record high on Monday as investors eagerly await the start of earnings season.

The tech-heavy Nasdaq and blue-chip S&P 500 both scaled to new heights today, but inched back shortly afterwards.

The S&P 500 rose 0.19 per cent during morning trading, while the Nasdaq added 0.06 per cent.

The rise was driven by investor sentiment improving after predictions that companies are set to publish a string of positive earnings reports strengthened.

FTSE 100 lifts on freedom day confirmation

London’s FTSE 100 rose on Monday as investors were buoyed by the confirmation that England will end all Covid restrictions on 19 July.

The capital’s premier index added 0.05 per cent during the afternoon session.

The gains were fuelled by traders becoming more optimistic about the UK’s economic trajectory after all Covid restrictions are lifted.

The mid-cap FTSE 250 inched down 0.05 per cent, while AIM shares were down 0.04 per cent.

The pound was stable against the greenback to buy $1.39.

Winners and losers

Insurer Admiral was the day’s best performer, climbing 3.94 per cent after it lifted it profits forecast.

Value retailer B&M came second, gaining 2.2 per cent. Bank NatWest came third, up 2.17 per cent.

Engine maker Rolls Royce was the day’s worst performer, sliding 5.21 per cent.

British Airways parent group IAG was the second worst performer, losing 4.24 per cent. Hospitality firm Whitbread was the third worst, down 3.13 per cent.