crashbandicoot2021| British stocks close at record high, market expectations that the Bank of England will usher in its "first decline" earlier-crash games

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crashbandicoot2021| British stocks close at record high, market expectations that the Bank of England will usher in its "first decline" earlier

editor 2024-04-23 8 0

Financial Associated Press, April 23 (Editor Zhao Hao) Monday (April 22)Crashbandicoot2021The benchmark FTSE 100index closed at an all-time high of 8023Crashbandicoot2021.87 pointsCrashbandicoot2021, an increase of 1.Crashbandicoot2021.62%, outperforming 0.7% of Germany's DAX30 index and 0.22% of France's CAC index.

It is worth mentioning that 8023.87 is the highest closing price of the FTSE 100, which reached 8047.06 in February last year. During the day, retail stocks led gains, M & S rose 4.39%, Pershing Plaza Holdings rose 4.14%, and Sainsbury and Vodafone Group rose nearly 4%.

crashbandicoot2021| British stocks close at record high, market expectations that the Bank of England will usher in its "first decline" earlier

The FTSE 100 is up 3.76% since 2024 and is closing the gap with the s & p 500. Analysts believe that traders have shifted from technology stocks, which were booming at the start of the year, to commodities, boosting the largest energy stocks in the UK, including the well-known energy giants Shell and BP.

Analysts pointed out that expectations of a rate cut in the UK are rising, weakening the performance of the pound, but also boosting financial markets, including the UK stock market. Traders expect the Bank of England to cut interest rates for the first time in August, with Federal Reserve Chairman Colin Powell hinting that rates will be maintained for a longer period of time.

Some even believe that the Fed's "first fall" may not take place during the year, which has led to a significant rise in Treasury yields in the near future. "this is largely related to spreads on government bonds, and market participants have high expectations of the Bank of England and the European Central Bank," said Emmanuel Cau, a strategist at Barclays.

Over the weekend, Dave Ramsden, deputy governor of the Bank of England, said inflation risks were now on the downside and price pressures had continued to weaken in recent weeks. Mr Ramsden also mentioned that he was less worried about UK inflation than in previous months, suggesting he might be willing to support a rate cut.

Since many FTSE 100 companies derive most of their revenue from UK overseas, the index as a whole is more likely to benefit from the fall in sterling. As of press time, the pound was at 1.2354 against the dollar, the lowest on the day at 1.2299, the lowest level since mid-November, with the dollar index above the 106th mark.