London’s benchmark stock index has finally returned to the level it stood at in February 2020 before the Covid-19 crisis sent global markets into one of the biggest panics ever seen.
The FTSE 100 gained more than 1% on Wednesday morning after a two-day Christmas break, moving 50 points beyond the mark it was at just before the pandemic crash 22 months ago. It hit a high of 7,457.14 points before closing at 7,420.69, up 0.7%.
The landmark came amid growing evidence that the Omicron coronavirus variant may cause less severe symptoms – although record daily UK case numbers meant Wales, Scotland and Northern Ireland introduced new restrictions on Boxing Day.