Global markets roundup, 1 April

• FTSE 100 down 0.3% to 6,598

• Gold down 0.87% to $1,284.01/oz

• £/$ – 1.6662

The FTSE 100 slipped back again yesterday, falling 0.3% to close at 6,598.

Babcock International was the day’s best performer, up 4.3% after being named the ‘preferred bidder’ for a £7bn, 14-year government contract to decommission nuclear sites.

In Europe yesterday, the Paris CAC 40 fell 20 points to 4,391 and the German Xetra Dax lost 32 points to 9,555.

In the US, the Dow Jones Industrial Average and the S&P 500 each rose 0.8% to 16,457 and 1,872 respectively, and the Nasdaq Composite was 1% higher at 4,198.

Overnight in Japan, the Nikkei 225 fell 0.2% to 14,791, and the broader Topix gained 0.1% to 1,204. And in China, the Shanghai Composite rose 0.7% to 2,047, and the CSI 300 added 0.8% to 2,163.

Brent spot was trading at $107.52 early today, and in New York, crude oil was at $101.12. Spot gold was trading at $1,287 an ounce, silver was at $19.77 and platinum was at $1,417.

In the forex markets this morning, sterling was trading against the US dollar at 1.6665 and against the euro at 1.2082. The dollar was trading at 0.7250 against the euro and 103.23 against the Japanese yen.

And in the UK, a report from the National Audit Office claims the government cost the taxpayer £750m in one day after undervaluing Royal Mail at its IPO. Shares closed at 455p on the first day of trading, 38% up on the offer price of 330p. They have since risen as high as 615p.

Merryn

Claim 12 issues of MoneyWeek (plus much more) for just £12!

Let MoneyWeek show you how to profit, whatever the outcome of the upcoming general election.

Start your no-obligation trial today and get up to speed on:

  • The latest shifts in the economy…
  • The ongoing Brexit negotiations…
  • The new tax rules…
  • Trump’s protectionist policies…

Plus lots more.

We’ll show you what it all means for your money.

Plus, the moment you begin your trial, we’ll rush you over THREE free investment reports:

‘How to escape the most hated tax in Britain’: Inheritance tax hits many unsuspecting families. Our report tells how to pass on up to £2m of your money to your family without the taxman getting a look in.

‘How to profit from a Trump presidency’: The election of Donald Trump was a watershed moment for the US economy. This report details the sectors our analysts think will boom from Trump’s premiership, and gives specific investments you can buy to profit.

‘Best shares to watch in 2017’: Includes the transcript from our roundtable panel of investment professionals – and 12 tips they’re currently tipping. The report also analyses key assets, including property, oil and the countries whose stock markets currently offer the most value.