FTSE 100 goes up driven by strong Asian lead
British shares kicked off the holiday-shortened trading week somewhat higher with market participants deriving inspiration from Asia, in particular from Chinese shares, showing the greatest ascend for three months.
The FTSE 100 index gained up to 0.2%, trading at 6,283.68, thus finding itself on track for its most impressive gain since April. The given benchmark posted a 1.9% revenue last week. On Monday, British markets were unavailable due to the late May bank holiday, while trading on American markets was closed too because of the Memorial Day holiday.
Tuesday’s surge for the FTSE 100 arose on the back of a positive trading session in Asia, where the Shanghai Composite Index closed +3.3%. It went up following increased upbeat sentiment that Chinese shares might soon be included in the crucial MSCI global benchmark.
The revenues in London were also backed up by the fact that markets are quite confident that if the US major bank gets down to another rate lift in June, the American economy is supposed to be sturdy enough to handle the probable fallout.