A decent end to last week on Wall Street, following on from the huge turnaround in sentiment last Monday, has fed through to renewed positivity in London this morning with shares across the board enjoying decent gains in early trading. The FTSE100 has built upon its feat of holding above the 6,300 line at the end of last week with further gains. Cyclical and consumer-related stocks are in favour again with the likes of International Consolidation Airlines, Virgin Money and AO World among the top gainers. Whether this marks a genuine shift to cyclicals as investors look beyond the coronavirus to the sunny uplands of a post-vaccine world remains to be seen as some, including our own Phil Oakley, are worried that the vaccine high may not last forever.
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