Better start for the FTSE 100 after Asia rally as Shanghai shares soar

Emma Haslett
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Markets in the US closed higher (Source: Getty)

Are things finally calming down on the markets? The FTSE 100 opened almost two per cent higher, taking heart from a rally in Asia, where the Nikkei closed one per cent higher, the Hang Seng closed three per cent higher - and Chinese markets leaped, with the Shanghai Composite gaining more than five per cent and the Shenzhen Composite closing up more than three per cent. Phew...

The FTSE was led higher by London Stock Exchange Group (so meta), as well as Irish building materials CRH, which said today it's agreed to buy US-based window glazing products distributor CR Laurence Co for $1.3bn.

The rise followed a rally in the US, where both the Dow Jones and the S&P 500 closed almost four per cent higher.

But all eyes will continue to be on the US today, where the Kansas City Federal Reserve will host the Jackson Hole conference of central bankers. Given comments on this week's market upheaval by those in a position to raise interest rates have been few and far between, investors are likely to be desperate to hear something from Wyoming.

Meanwhile, the US is preparing to announce both labour market and GDP figures. Sit tight...

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