© Provided by City AM The FTSE 100 opened higher this morning, leaving the index on track for its best week in a month as hopes of a rapid recovery from the Covid-19 pandemic grew further.
London's premier index is up 0.3 per cent so far today, and is now teetering on the edge of the 7,100 mark at 7,094.80 points.
Read more: British Airways owner IAG posts ?1.1bn loss as passengers remain grounded
The FTSE 250 of midcap firms also rose 0.3 per cent to hit 22,612.50 points.
The rise took the blue chip index close to 14-month highs, with investors buoyed after the Bank of England's monetary policy committee lifted its forecast for the UK's GDP growth in 2021 to 7.25 per cent.
Another healthy set of corporate earnings also helped the market higher, while mining stocks were boosted by record prices for copper.
Across the Channel, the French CAC was up 0.2 per cent, while the DAX rose 0.9 per cent in early trading.
Video: Commodity Prices Hit Levels Last Seen During Supercycle (Bloomberg)
Commodity Prices Hit Levels Last Seen During Supercycle
![UP NEXT]()
UP NEXT
Market movers
Engineering twins Rolls-Royce and Melrose led the FTSE 100's risers this morning, up 2.1 and 1.6 per cent respectively.
Before the Open: Get the jump on the markets with our early morning newsletter
A clutch of other heavyweights, including Shell, Barclays, and Pearson, all rose over 1.0 per cent.
The FTSE 250 was led by two big risers, property developer St Modwen and engineer Meggitt.
St Modwen was this morning the subject of a £1.2bn offer from Blackstone, sending shares up 19 per cent.
Read more: Blackstone makes £1.2bn offer for property developer St Modwen
And there were reports that Meggitt had received a takeover approach from Woodward, sending shares up 13 per cent.
The post FTSE 100 on track for best week in a month appeared first on CityAM.