FTSE 100 Live: Markets surge as Omicron fears ease, house prices up again

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US infectious disease expert Dr Anthony Fauci said while stock market concerns about Omicron continue to ease, preliminary data on the new version appears encouraging.

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The FTSE 100 index rose 1.5% on Monday and markets in Asia built on this momentum as strong trading data in China contributed to a 1.9% increase for the Nikkei 225 in Tokyo and 2% for the Hang Seng in Hong Kong.

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Today’s session in London includes the latest house price figures from Halifax, with a November average of £272,992 for the fifth consecutive month and up 8.2% from a year ago.

live update


Recovery hopes build as Asia markets rally

The FTSE 100 index is set to consolidate Monday’s 1.5% rise, amid signs that the Omicron variant has remained mild so far.

Michael Hewson of CMC Markets said: “Indications still show that it is not causing a major increase in hospitalizations and deaths, with the expectation that it could be as contagious as the common cold, it could be as bad. As far as it goes.

“The hope certainly seems to be that yesterday’s market made gains, with the FTSE 100 reaching its highest level since Nov. 26.

“However, as last week has shown us, while sentiment is shown to be positive one day, it doesn’t take too long to turn it on its head and turn it negative the next day.”

He expects the FTSE 100 index to open another 12 points higher at 7244.

Worries about Omicron’s impact on global economic demand begin to ease, Brent crude futures rose another 1% to $73.77 a barrel, oil prices continue to recover some of their recently lost ground .

Trade data also showed encouraging signs from China’s economy after beating expectations, including forecasts for 27.1% growth in exports in October.

Japan’s Nikkei 225 index shows renewed optimism, closing 1.9% higher.


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