FTSE 100 climbs despite mounting concerns over Delta variant

London’s FTSE 100 climbed on Tuesday despite mounting concerns over the spread of the Delta variant of coronavirus.

The capital’s premier index rose 0.39 per cent to 7,100 in afternoon trading.

The gains come as data from the Bank of England shows households recorded positive net consumer borrowing for the first since August, fuelling hopes that the UK economy is recovering faster than expected from the pandemic.

The mid-cap FTSE 250 added up 0.17 per cent, while AIM shares rose 0.32 per cent in the afternoon session.

Despite London’s strong performance, pound sterling dipped below $1.39 today, indicating investor sentiment may be weakening on concerns about the Delta variant.

Winners and losers

The day’s best performer so far was food delivery company Just Eat, rising 3.51 per cent after the company announced yesterday it is expanding its workforce in Cambridge by 150.

Miner Evraz PLC came second, adding 2.54 per cent. Chemicals firm Johnson Matthey ranked third, climbing 2.32 per cent.

Miner Polymetal International took the day’s worst performer spot, sliding 2.48 per cent.

British Airways parent company IAG came second, which slipped 2.25 per cent, after EU leaders moved to impose travel bans on the UK. BT was the third worst performer, down 2.23 per cent.

Around the world

London’s strong performance was extended across the pond, with both US flagship indexes opening up on Tuesday.

The S&P 500 edged up 0.18 per cent, while the tech-heavy NASDAQ Composite added 0.04 per cent.

Europe’s STOXX 600 strengthened 0.43 per cent.