Joe Biden is expected to spend more on America’s coronavirus response and repairing its crumbling infrastructureThe prospect of Joe Biden launching a big stimulus package in the US after the Democrats secured a “clean sweep” of Congress and the White House led to big gains for financial markets yesterday despite the violent protests in Washington. The FTSE 100 rose by 3.5 per cent, or 229.61 points, to 6,841.86 for its largest one-day percentage gain since November 9, when Pfizer and Biontech unveiled promising early results from their Covid-19 vaccine trial. The rally means that Britain’s index of leading shares has climbed by 5.9 per cent in the first three sessions of the year, its best performance for the period in its 37-year history. A Brexit deal and the rollout of two vaccines in the UK have also boosted investor sentiment.

Source: The Times January 06, 2021 17:07 UTC