FTSE 100 gains as UK construction hits six-year high – as it happened
Rolling live coverage of business, economics and financial markets as US stocks hit record high
- UK construction expands at fastest pace since 2014
- All-time high for US S&P 500 after Fed gives support
- Australia considering financial support for GFG steel companies
- Asos triples profits as pandemic proves positive
3.11pm BST
A central conundrum facing economists and politicians around the world is that we know there is going to be an economic recovery of historic proportions from the coronavirus crisis, but we just don't know quite when it will come.
US stock markets have already bought the rumour, with the S&P 500 setting new record highs on a daily basis.
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2.36pm BST
The S&P 500 has opened higher to reach a new all-time high, after setting another record high on Wednesday evening.
The US stock market has been buoyed by hopes that the economy will roar back as vaccine programmes start to allow reopening, while government spending plans and loose monetary policy are also helping.