Wed. Jan 27th, 2021

UK stock market in biggest one-day rally since 2016 amid ‘Boris bounce’ – business live

Rolling coverage of the latest economic and financial news

4.46pm GMT

BOOM! £50bn has been added to the value of Britain’s biggest companies, as the City continues to celebrate Boris Johnson’s election victory.

The FTSE 100 index of top blue-chip companies has just closed 165 points higher at 7519 points, which is a four month high. That lifts its value by around £42.6bn, and is the biggest points rally since the aftermath of the Brexit vote in 2016.

With clarity on Brexit and a first phase trade deal agreed investors are more than ready to jump aboard the Santa rally.

This is the last full week of trading prior to the Christmas break, which means that volumes will be starting to thin out and any moves in the market could be exaggerated.

4.24pm GMT

With just a few minutes to go, the Footsie is firmly on track for its best day in three years…

It’s currently up 195 points, or 2.66%, at 7548. Still time for a late collapse, though…. #unlikely

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