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Investors continued to bid up stocks as worries about the banking system faded away, with the FTSE 100 having risen closely 3% since the start of the week.
The market was lifted by a broad range of sectors including retail, banking, travel and property.
Russ Mould, investment director at AJ Bell, said: “That suggests confidence is rebuilding among investors who acquire been shaken by the rapid unfolding of issues concerning a handful of US and European banks, and as expectations for interest rates once again swerved in a modern direction.
“Petrofac soared by more than 60% after winning a space on a framework agreement to assist expand offshore wind capacity in the Dutch-German North Sea. Judging by the previous share price trend, Petrofac needed all the excellent news it could secure, as the stock had slid from circa 600p in 2018 to 50p last week.
“The wooden spoon went to Drax after the government said its BECCS (biomass project with carbon capture and storage) had not been selected for Track-1 development.
“Quite a few companies saw their share prices dip as they traded without the rights to the next dividend, including Aviva, Taylor Wimpey, Mondi and Moneysupermarket.”
