FTSE 100 futures hit two-month high
IG’s FTSE 100 pre-market estimates indicate that the benchmark is poised to open higher on Labour Day Eve.
FTSE 100 futures at a two-month peak
UK benchmark FTSE 100 index rallied a further 1.6% overnight to pre-coronavirus levels, IG data show.
IG's FTSE 100 futures price estimates showed that the index soared to a two-month high, as it increased by roughly 100 points to push north of 6200 as at 00:00 GMT on Thursday 30 April 2020.
This is the first time since 09 March 2020 – when the Covid-19 pandemic became widespread in the UK – that the FTSE has gone above 6000 points.
Gain access to FTSE 100 and thousands of financial markets via IG's world-leading trading and investments platform. With CFDs, you can buy long or sell short on the FTSE 100 index depending on whether you think prices will rise or fall. Start today by opening an IG account.
FTSE gains as infection rates decelerate
The overnight gains have come ahead of the US Federal Reserve’s policy meeting later Thursday to discuss the pandemic’s impact on the US economy.
New positive data out of US drugmaker Gilead Sciences’ phase three trial of the investigational Covid-19 antiviral remdesivir in hospitalised patients with severe manifestations of the disease, also appeared to have aided market sentiment.
According to Gilead, the study was able to demonstrate that patients receiving a 10-day treatment course of remdesivir achieved similar improvement in clinical status compared with those taking a 5-day treatment course. More than half of patients in both treatment groups were discharged from the hospital by Day 14.
Adding to this bout of optimism were news that several mainland European countries have begun to ease up their lockdown measures with infection rates slowing down.
In the UK, infection rates slowed down to under 5000 a day for the fifth straight day on Wednesday 29 April. There are now over 165,000 confirmed cases and over 26,000 deaths.
This run of good form had begun last Friday 24 April after oil prices rebounded, allowing for FTSE 100 oil and gas components like BP and Royal Dutch Shell to boost the overall benchmark.
Are you bullish or bearish on the FTSE 100? Either way, you can buy long or sell short on the FTSE 100 index and other indices using CFDs and other instruments offered on IG's world-leading trading platform. Start today by opening an IG account.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
