FTSE 100 rebounds after crash as global markets also recover losses, Sensex at record high

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London stocks recovered some losses from Friday as major indices advance  (PA Wire)
London stocks recovered some losses from Friday as major indices advance (PA Wire)

London’s FTSE 100 rebounded on Monday, helped by mining and industrial stocks, as the index recovered slightly through its losses of last week.

The blue-chip index closed 45 points or 0.6 per cent up at 7,062, after falling by almost two per cent in the previous session, down to the month’s low.

Meanwhile the domestically focused FTSE 250 also edged higher and advanced 0.6 per cent.

Across the pond, US stocks clawed back most of their sharp losses from last week with hopes of broader economic recovery. The Dow Jones Industrial Average index advanced 587 points, or 1.7 per cent, to 33,877. The S&P 500 index inclined 58 points, or 1.4 per cent, at 4,225. The tech-heavy Nasdaq Composite Index added 111 points, or 0.8 per cent, to 14,141.

Shares in Asia-Pacific also rose in Tuesday morning trade tracking recovery in global peers. Japan’s Nikkei covered all its losses, and rose by over three per cent by noon, after crashing by three per cent yesterday. Hang Seng opened positive but is in a volatile session and trading with a loss of 0.15 per cent.

Shanghai Composite is trading 0.8 per cent higher.

Indian indices opened higher with Sensex at a record high on Tuesday, as global recovery provides stocks with a required push. Domestically, the auto, energy, and banking stocks advanced, taking Sensex close to 53,000. Nifty is at 15,876.

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