FTSE 100 edges above 7,100 with easing Covid restrictions, Sensex and Nifty open positive

Asian markets rise following positive global cues and a hike in oil and gas prices

Stuti Mishra@StutiNMishra
Monday 10 May 2021 06:26
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<p>The UK prepares to ease restrictions further from 17 May</p>

The UK prepares to ease restrictions further from 17 May

London’s FTSE 100 surged to a 15-month high to over 7,100 as the UK government decided to ease Covid-19 restrictions further on from May 17, including indoor meetings and quarantine-free travel to 12 countries.

On Friday, the index of London’s leading share closed at 7,129, rising 53 points. The domestically focused FTSE 250 closed 283 points higher at 22,775.

Meanwhile, the US jobs data and surge in mega cap stocks edged the indexes at Wall Street as the Nasdaq Composite recovered and added 119 points, or 0.88 per cent, to close at 13,752. The Dow Jones Industrial Average rose to record levels of 34,776, rising by 227 points, or 0.66 per cent, along with S&P 500 gaining 30 points, or 0.73 per cent, to 4,232.

On Monday, markets mostly rose in Asia following positive global cues and a hike in oil and gas prices following after a cyber attack on a key US pipeline operator. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.49 per cent.

Japan’s Nikkei rose 0.56 per cent, South Korea’s Kospi was up 1.5 per cent, Shanghai Composite was almost flat, however, Hang Seng came crashing 0.33 per cent down.

Indian indices also opened higher on Monday following gains in Asian peers amid strong global cues. However, India’s Covid situation remains a concern for investors. At the opening. the Sensex was up 289 points at 49,496 while the Nifty around 100 points to 14,928. 

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