FTSE shrugs off dire BoE projections

Investors continued to push the UK’s biggest shares upwards as they remain hopeful the economy could open up, and shrugged off dire financial warnings from the Bank of England Load Error The FTSE 100, the main index in London, added 82.22 points to end the day up 1.4% at 5935.98. Meanwhile, the news that 3.2 million more Americans had filed for unemployment in the last week did not dampen spirits in New York where the S&P 500 rose 1.9% and the Dow Jones gained 1.8% at around 5pm UK time. Instead, focusing on Donald Trump’s strategy to reopen America for business, deaths be damned,” said Spreadex analyst Connor Campbell. In company news, almost a quarter of Barclays shareholders voted for a plan to phase out fossil fuel funding at the bank. However the attempt was beaten by a board-backed plan, criticised by green campaigners for its lack of detail, to be carbon neutral by the middle of the century. AA investors sent the company’s stock up 8.2% after the breakdown specialist told them to expect a milder coronavirus hit than many had feared. Two steps below BT in the list of the biggest losers on the index was British Airways and Aer Lingus owner International Consolidated Airlines Group (IAG) which revealed it does not expect to return to full capacity until 2023. The biggest risers on the FTSE 100 were Anglo American, up 96.2p to 1,467p, JD Sports, up 36p to 554.2p, RSA Insurance, up 24.2p to 393.6p, Phoenix Group, up 35.8p to 605.4p, and Hargreaves Lansdown, up 79.5p to 1,505p.