The start of 2017 is already looking much rosier than the start of 2016 when concerns over Chinese growth gripped markets.
“Given a year ago (when) investors came back from the Christmas break to see markets plummet, it is no doubt a big relief that this year has started more positively. The PMI numbers are surprisingly strong,” Adrian Lowcock, investment director at Architas, told Reuters.
Growth sensitive stocks helped support the rally in British stocks, with miners and energy leading the charge as strong PMI readings pointed to further economic growth heading into 2017.
“We’ve been particularly bullish on the FTSE whilst a lot of people were going short,” John Moore, trader at Berkeley Capital, told Reuters. “It’s just good news all round.”
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