Shouldn't they be ravaged by grasshoppers with Brexit? Hmm? Remember all the propaganda about Brexit and its apocalyptic effects on the UK, and nothing, nada.... Ah yes, the stock market is exploding.
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With a peak at more than 3%, the London Stock Exchange is off to a good start in 2021 for its first session since the United Kingdom left the single European market, thanks in particular to the hopes raised by vaccination campaigns.
If some could fear a slowdown in the world's second largest stock market following Brexit, the City's flagship index showed nothing on Monday 4 January. “The FTSE-100 enters 2021 in style and an impressive gain of 3%”, notes Joshua Mahony, an analyst at IG. At 14:30 p.m. GMT, the London index indeed took 2,76% to 6.638,98 points, a few hours after jumping more than 3%. At the same time, the CAC 40 also garnered solid growth, but at +1,75%.
According to the expert, "Brexit has finally been achieved and there are few signs of any difficulties which allays fears." As a reminder, the country officially left the EU on 1er January at the end of a transition period of 11 months and a few days after concluding a free trade agreement with its main trading partner. “The deal focuses on goods more than services, which means it will take time to measure the impact of the separation on growth prospects,” warns the expert.
Vaccines as sources of hope
The markets were also supported at the start of the year by vaccination campaigns around the world which give hope for a return to normal soon, despite the surge in cases of contamination.
“Investors clearly believe the vaccine will enable a strong recovery, perhaps after a difficult first quarter,” notes Russ Mould, analyst at AJ Bell.
The United Kingdom on Monday became the first country to administer to its population the vaccine developed by the British laboratory AstraZeneca and the University of Oxford.
Mining, oil and sports betting sectors on the rise
These values were encouraged by a Chinese indicator showing that manufacturing activity is solid in China, the world's largest importer of metals. They also benefited from the fall in the dollar, which is supporting prices. BHP took 5,45% to 2.030,00 pence and Rio Tinto 5,80% to 5.787,00 pence.
At the same time, the oil sector was sought after as members of the Organization of the Petroleum Exporting Countries (OPEC) and their partners, led by Saudi Arabia and Russia, meet by videoconference to decide on the quantity of crude to be handed over. on the world market next month. BP thus gained 3,22% to 263,00 pence and Royal Dutch Shell (“B” share) 2,48% to 1.290,61 pence.
Finally, the British sports betting and gambling group, owner of the popular Ladbrokes brand, refused a takeover offer of 8 billion pounds (8,86 billion euros approximately) issued by the American casino giant MGM . It therefore recorded an increase of +26,67% to 1.435,83 pence.
source: Latribune.fr via Twitter
Additional information :
Crashdebug.fr: BREXIT: the United Kingdom knocks Europe out! Analysis and follow-up: Frexit!
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