Stocks recover from shock of 2020 as vaccines allow economies to reopen and stimulus packages boost growth
Coronavirus vaccines this year helped inject some optimism into stock markets after a difficult 2020.Coronavirus vaccines this year helped inject some optimism into stock markets after a difficult 2020.TheLondon’s leading index of blue-chip shares rallied by 14.3% during 2021,in its worst drop since the 2008 financial crisis. It closed at 7384 points on Friday, having started the year at 6460 points.
The aerospace group Meggitt surged 58% after a takeover approach from US rival Parker Hannifin. The deal is. The mining company Glencore rose by more than 65%, lifted by rallying commodity prices, while Royal Mail jumped 56% thanks to strong demand for parcel deliveries. London lagged behind some other major European indices, with France’s CAC soaring 20% and Italy’s FTSE MIB up 23%. The pan-European Stoxx 600 hit a series of record highs, lifted by technology firms and financial stocks. Luxury also did well, with LVMH Moët Hennessy Louis Vuitton’s shares firmly in fashion, up more than 40%.Japan’s225 finished 2021 at its highest year-end level since 1989, rising almost 5%.
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