Global stock markets SOAR: Dow Jones peaks at 25,000 while FTSE 100 BOOMS
GLOBAL stock markets shattered records today as 2018 begins where 2017 left off - with shares rising across the world.
America’s Dow Jones industrial average soared over the 25,000 point mark for the first time ever - meaning it has gained around 25 per cent in the last 12 months.
Traders drove the Dow up after payroll figures showed that American companies hired 250,000 workers last month, marking the biggest monthly increase since March.
Jacob Deppe, head of trading at online trading platform Infinox in London, believes the Dow could continue its momentous run and hit 26,000 soon.
He said: “With the Dow Jones hitting 25,000 for the first time there seems no end in sight to a stock market rally spurred on by much stronger than expected jobs data for December, offering yet further evidence of the strength of the US economy.
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Most analysts had expected 190,000 jobs to have been created in the month but 250,000 jobs blew that number apart
“Most analysts had expected 190,000 jobs to have been created in the month but 250,000 jobs blew that number apart. Little wonder the Dow Jones soared to a new all time record high soon after.
“Markets will expect a big number from official Non-Farm Payrolls data tomorrow, anything much less than 250,000 will be considered a disappointment.”
Britain’s FTSE 100 also hit a new high today, closing at 7,695.88.
The blue-chip index gained 24 points today, sending it over the previous record close - set on the final day of trading last year.
The rally was led by energy stocks, miners, technology stocks and financial firms.
And Europe’s companies posted their strongest growth since 2011, with the eurozone composite PMI jumping to 58.1 in December, up from November’s 57.5.
The service sector PMI rose to 56.6, up from 56.2 a month earlier.
Britain’s service sector also picked up pace in December, with the UK services PMI clocking 54.2 for last month, up from 53.8 in November.
Any reading over 50 shows growth, and this is the second-highest score since last April.
