FTSE jumps to new post-pandemic high – live updates – Telegraph.co.uk

Good morning. The FTSE 100 is tipped to open up as US stock market futures hit another record high. 

Overnight the Federal Reserve underlined its commitment to keeping policy loose even as the economy enjoys a rapid recovery, providing a boost to markets.

5 things to start your day 

1) Brexit ‘cannot possibly be positive’ for UK, JP Morgan chief says: Jamie Dimon warned he could shift all bankers serving EU clients out of London as regulators on the Continent seek to steal the City’s business.

2) London airport expansion not needed until 2030s, says Gatwick: Gatwick said extra capacity will not be needed for many years following a near-total collapse in passenger travel triggered by Covid restrictions.

3) Worker exodus will be reversed if jobs come rushing back: Britain will be more attractive to foreign workers if the vaccine scheme prompts a stronger rebound, Goldman economist says.

4) Murdoch sues Flutter in row over US sports betting firm: Fox Corp claims it is entitled to buy a significant stake in FanDuel at a price that owner Flutter says is heavily discounted to its real value.

5) Scandi-chic helps Volvo steer to 30-year UK high: Once seen as fusty, the company appears to have shaken off its old image and caught up with the times, selling 40pc more cars from Jan-March.

What happened overnight 

Asian markets mostly rose on Thursday with traders keeping tabs on the progress of US President Joe Biden’s huge infrastructure plan, while also taking heart from Federal Reserve meeting minutes reinforcing its intention to keep interests at record lows for an extended period.

The Nikkei 225 was down 0.4pc at 29,620.11 (break), the Hang Seng Index was up 0.8pc at 28,898.94 and the Shanghai – Composite was up 0.1pc at 3,482.69.

Coming up today

Corporate: Aviva, Chesnara, Direct Line, ONESAVINGSBANK, Sportech (Full year); Asos (Interim); CMC Markets, Dunelm, Entain, Ferrexpo (Trading update)

Economics: Construction purchasing managers’ index (UK, US), factory orders (Germany), jobless claims (US), producer price index (EU), trade balance (EU)