FTSE opens up higher again in February rebound
London’s main market opened up some 0.40 per cent higher this morning, continuing a positive start to the month after a volatile January.
The FTSE 250, the second larger UK index, was up a similar 0.40 per cent, at 20,479.
The rebound follows turbulence last week surrounding Gamestop and other companies targeted by both short-sellers and a Reddit group called Wall St Bets.
The morning’s biggest winner was the London Stock Exchange, which was up 4.85 per cent. Property website Rightmove was the next, up 2.66 per cent.
Fresnillo, an Anglo-Mexican precious metals mining company, was this morning’s worst performer, down 9.83 per cent. By contrast, Fresnillo was up 16.5 per cent yesterday, thanks to the silver rally.
Elsewhere Asian stock markets gained for a second day, ahead of negotiations between U.S. President Joe Biden and Republican senators on a new COVID-19 support bill.
Silver soared in price yesterday, up as much as 11.2 per cent to a near eight-year peak as retail investors piled into the metal in a frenzy kicked off on Reddit.