London’s top index extended a three-day winning streak on Thursday, after already registering its best start to the year so far this week, as global markets shrugged off unrest in the US capital.
Traders hoping that the shortened business day on Christmas Eve – as markets closed at 12.30pm – would include a deal between the UK and EU were left disappointed.
Traders continued to worry over the lack of a trade deal between the UK and the EU.
Sterling jumped to a two-year high as currency traders held out hope for a deal with the EU as time ticked away for an agreement to be struck.
Global stock markets were subdued despite significant gains over recent days as US trading shut for the Thanksgiving holiday.
Traders wiped out all the gains made after this week’s vaccine announcements from Moderna and Pfizer on Thursday as a third announcement, this time from AstraZeneca, failed to impress.
After four strong days this week as votes were cast and tallied in the US, global markets remained fairly flat on Friday.
The London markets finished in the red following a brutal end to October for global traders.
Markets plunged into the red across the globe over concerns that rising coronavirus case numbers in the UK, mainland Europe and the US will damage the global economic recovery.
London’s markets tumbled as concerns over the worsening health crisis increased through the session, knocking the FTSE off course.