FTSE 100 breaks above 7,000 level for first time since pandemic-led crash

The domestically focussed mid-cap FTSE 250 index gained 0.2%, hitting a record high. Among stocks, Man Group rose 0.9% after the hedge fund manager posted a rise in funds it manages and said it expected its customers to put in more money in the coming quarters as client engagement was positive this year.

London's FTSE 100 rose above the 7,000-mark on Friday for the first time since the pandemic pummelled financial markets last year, as speedy vaccine rollouts and government policy support lifted investor sentiment about a stronger economic re-opening. The blue-chip index climbed 0.3% to 7,005.68, with heavyweight banking, energy, mining stocks that stand to benefit from an economic recovery gaining between 0.3% and 1.1%.

Globally, the sentiment was also bolstered after a batch of Chinese and U.S. economic data helped investors price in a solid recovery from the coronavirus-led slump. The domestically focussed mid-cap FTSE 250 index gained 0.2%, hitting a record high.

Among stocks, Man Group rose 0.9% after the hedge fund manager posted a rise in funds it manages and said it expected its customers to put in more money in the coming quarters as client engagement was positive this year.