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Investors in bullish mood

FTSE 100 at year high as China fears ease

London Stock ExchangeThe FTSE 100 is expected to open higher after hitting a year-high yesterday, up 120.5 points or 1.9% at 6,362.89.

The uplift was largely fuelled by data from China showing exports rising and suggesting the world’s second largest economy is in better shape than some feared.

Wall Street also closed strongly. The Dow Jones ended Wednesday 187 points or 1.06% higher at 17,908, while the S&P 500 and the Nasdaq rose by 1% and 1.55% respectively.

Asia shares were also higher Japan’s Nikkei rallied 436 points or 2.66% to 16,817. Hong Kong’s Hang Seng, meanwhile, moved 1743 points or 0.8% higher to 21,333. The Shanghai Composite was the only major index to see negative territory, albeit only slightly at 3,065.

The FTSE 100 is at its highest level since 2 December. European markets were also higher, Germany’s DAX up 2.7% and the French CAC 3.3%.

Chinese exports rose 11.5% in March against the same month last year,  returning to growth for the first time in nine months.

Mining companies were among the top risers and oil is comfortably above $40 a barrel, trading last night at $44, well above its $27 low in January.

 

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