FTSE 100 breaks above 7,000 level for first time since pandemic-led crash

London’s FTSE 100 rose above the 7,000-mark on Friday for the first time since the pandemic pummelled financial markets last year, as speedy vaccine rollouts and government policy support lifted investor sentiment about a stronger economic re-opening.

The blue-chip index climbed 0.3% to 7,005.68, with heavyweight banking, energy, mining stocks that stands to benefit from an economic recovery gaining between 0.3% and 1.1%.

Globally, sentiment was also bolstered after a batch of Chinese and U.S. economic data helped investors price in a solid recovery from the coronavirus-led slump. [MKTS/GLOB]

The domestically focussed mid-cap FTSE 250 index gained 0.2%, hitting a record high.

Among stocks, Man Group rose 0.9% after the hedge fund manager posted a rise in funds it manages and said it expected its customers to put in more money in the coming quarters as client engagement was positive this year.