London stocks were in the black by midday on Friday, with the FTSE 100 trading above 7,000 for the first time since February 2020 as investors mulled encouraging Chinese growth figures.
The top-flight index was up 0.7% at 7,033.32, with sentiment underpinned not just by the Chinese data, but also by Thursday’s solid US retail sales and jobless claims numbers.
Russ Mould, investment director at AJ Bell, said the index breaching 7,000 “represents a massive milestone in recovering from the terrible pandemic and shows how investors’ confidence has completely changed since just over a year ago”.
“The market was understandably shocked as the coronavirus gripped the world but in true investor style it has quickly focused on the future and the ability for corporate earnings to recover.”
Jarvis Investment Management Ltd offers a wide range of stockbroking and administration services and solutions. Their parent company, Jarvis Securities plc (LON:JIM) is listed on AIM.