The FTSE 100 was poised for a favourable start as London’s market resumed trading following the Christmas break.
Spread betting firms indicated that the Footsie could potentially open up to 40 points higher at 7,748, driven by promising performances in both Asian and US markets overnight.
Optimism prevailed due to the belief that US interest rates may have reached their peak, which had already contributed to significant gains leading up to the holiday season.
The FTSE 100 was poised for a favourable start as trading in London resumed following the Christmas holiday. Spread betting firms indicated that the Footsie could potentially open up to 40 points higher at 7,748, thanks to strong performances in Asian and US markets overnight. https://t.co/TjwVSn1t0z pic.twitter.com/wn9FmPsDek
— Share_Talk ™ (@Share_Talk) December 27, 2023
Over on Wall Street, the S&P 500 briefly touched its highest level in nearly two years, coming within 22 points of its all-time high. Meanwhile, the other two major indices were on track to conclude 2023 significantly higher than where they had started.
In Asia, the key indices in Tokyo and Hong Kong recorded gains of more than 1%.
While company news in London remained light, the pharmaceutical giant AstraZeneca made headlines by announcing its acquisition of Nasdaq-listed Gracell, a developer of drugs for cancer and autoimmune diseases, for an initial $1 billion—a 62% premium over its last closing price.
