Investors will remember, remember the month of November for years to come after a market rally that threatens to eclipse any other. The FTSE 100, home to London’s biggest publicly quoted companies, seems certain to record its best month in more than three decades, if not ever, and the feeling in the City is that there’s still more to come.
London’s market is dominated by big-name banking, energy and travel companies, which have been clobbered throughout the Covid-19 pandemic. Its exposure to these “old economy” stocks is one of the reasons why the Footsie has underperformed most of its peers this year.
However, investors, prodded into action by progress in coronavirus vaccines and talk of a rapid economic recovery, have executed a sharp about-turn. “We