FTSE growth good for private wealth?

The share value of Britain's most capitalised companies has increased by more than seven per cent since the beginning of the year, potentially good news for people with private wealth.

Latest figures show the FTSE 100 has risen by 7.3 per cent since January, Reuters reports.

Mining stocks have seen the sharpest increase in value recently, with copper surging to a new record price of $9,000 (£5,697) per tonne.

Shares in energy companies have also experienced a jump with the price of crude oil approaching $90 a barrel.

Tesco's improved sales figures meant their share price climbed 2.4 per cent, while renewed market interest in Sainsbury's led to a boost of more than four per cent in the value of its stock earlier this week.

David Buik, senior partner at brokerage specialist BGC Capital, told the news provider: "There's very little evidence out there as to why we should neglect equities for the time being."

Speculation has mounted in recent weeks that Sainsbury's will soon be the subject of a takeover bid by Qatari investors.
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