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Blue chips enjoy biggest rise for five years

Britain’s index of top companies shrugged off the potential impact of Omicron on the economy to enjoy its biggest annual rise since 2016.

The FTSE 100 closed the shortened trading session 18.47 points lower at 7,384.54 but close to 1,000 points higher than it began at the start of the year.

The 14.3% rise from 6460 over the past 12 months is largely attributable to oil shares such as BP and Royal Dutch Shell which were boosted by a 50% rise in the price of Brent crude over the period to about $79 a barrel.

However, London’s performance was largely muted compared to the US where the Nasdaq is up 27.5% and the Dow Jones 19% higher.

 



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