FTSE likely to have biggest weekly rise in years

Leading shares are on course for their biggest weekly rise in nearly four years and there is hope that central banks will continue to support a struggling global economy.

There were concerns following the weakness of the Chinese stock market, but things seem to be looking up.

The FTSE has jumped another 29.15 points, making an 8th consecutive day of rising, marking its biggest rise since December 2011 [1].

Gloomy forecasts for the global outlook from the International Monetary Fund have added to the feeling that central banks will keep acting to try and boost growth [1].

With metal prices recovering, mining shares are rising among the volatile markets.

Oil prices are also rising with Brent crude up another 0.8%, leaving transport companies lower on worries about higher fuel costs [1].

European shares continued to gain momentum, and are set to record their largest gain since January, with both CAC in Paris and DAX in Germany gaining almost 1% in this morning’s trade.

[1]. The Guardian. ‘FTSE on course for biggest weekly rise for nearly four years’.