Several Asian indices rallied to record highs on Monday as U.S. markets were closed in celebration of President’s day.
The rally comes as the COVID-19 vaccine continues to be distributed at a fast pace across the globe.
In Japan, the Nikkei was up close to 2%, once again surpassing the 30,000 point level, quoting an intraday high of 30,084.
This was the first time in over three decades the Nikkei 225 has traded at this level, despite data showing that economic growth had recently slowed.
Whilst Chinese indices were also closed due to New Year celebrations, Australia’s benchmark index the ASX 200 also hit a new high, adding 0.9% to its value.
FTSE 100 rises as 15 million Britons received COVID-19 vaccines
The FTSE 100 rose by over 2% on Monday, as it was revealed that the COVID-19 vaccine roll out was ahead of schedule.
Although it was expected that 13 million Britons would receive the vaccine by mid-February, it was confirmed that 15 million had received the jab.
A total of 15.3 million people have now been vaccinated, as the nation has also recently seen the reproduction of the virus hit its lowest since July.
The news comes as a further 9,765 cases and 230 deaths were recorded today, which is the lowest level infections have been since the second wave began in December.
Oil prices rise above pre-pandemic level
Oil prices today rallied to their highest level since before the start of the coronavirus outbreak a year ago.
WTI crude rose to an intraday high of $60.93 to start the week, which is the highest prices have traded in 13-months.
The last time prices reached this level was when tension between the U.S. and Iran rose, as the U.S. claimed responsibility for assassinating Iranian General, Qasem Soleimani.
Tensions in the Middle-east have once again risen as Saudi Arabia’s conflict with Yemen/Iran heightened over the weekend.
Quote of the day – “If you can learn to create a state of mind that is not affected by the market’s behaviour, the struggle will cease to exist.”Mark Douglas
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Senior Market Analyst