London markets climb again as investors brush off Omicron fears

London markets climbed again this morning as investors continue to brush fears over the Omicron variant.

The capital’s premier FTSE 100 index added 0.37 per cent to reach 7,366.76 points, while the mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.51 per cent to 23,356.58 points.

This morning’s rise extends a remarkable recovery in the City in which the FTSE 100 has regained all its losses from the Omicron-induced selloff at the end of last month, which saw the premier index lose over three per cent of its value.

“Equity markets blasted sharply higher yesterday as the market rushed to erase the concerns triggered by the Omicron virus outbreak,” analysts at Saxo Bank said.

Housebuilders led London higher, with Berkeley topping the FTSE’s top riser column, adding over 4.60 per cent. 

Persimmon jumped 1.60 per cent, while Barratt Developments rose 1.56 per cent.

Meanwhile, on the mid-cap index, estate agent Savills extended the property rally, climbing more than three per cent.

Cambridge-based cybersecurity Darktrace topped the FTSE’s worst performers as investors continue to shun the once tech darling of Britain.

The pound lost ground on the dollar, weakening 0.12 per cent to $1.3226.