Euphoria about a breakthrough in the race to develop a Covid-19 vaccine has driven leading British shares to their best week in seven months, even as coronavirus cases hit a record.
The FTSE 100 index climbed by 6.9 per cent this week and the domestically focused FTSE 250 gained 7.6 per cent, the best performance for each since the week starting April 6.
Investors poured a record £33.8 billion into global equity funds this week, research by Bank of America showed. They also spent £13.5 billion in cash, indicating that the mood has shifted from defensive to offensive investment.
Yields on “safe-haven” ten-year UK government bonds jumped by 22.4 per cent this week, reflecting heavy selling, and on Wednesday hit their highest level since late
