Global markets roundup, 16 April

• FTSE 100 down 0.6% to 6,542
• Gold down 1.9% to $1,302.64/oz
• £/$ – 1.6730

Disappointing economic data reversed Monday’s gains, dragging the FTSE 100 42 points lower to 6,542.

Miners bore the brunt of Tuesday’s sell-off. Fresnillo fell hardest – down 3.3%, while Rio Tinto followed close behind with a loss of 3.1%. Randgold Resources fell 2.4%.

However, Royal Mail bucked the trend, adding 3.7%. Investors are waiting on the government’s decision over whether to sell its remaining 30% stake.

In Europe, the Paris CAC 40 fell 40 points to 4,346, and the German Xetra Dax lost 165 points to 9,174.

In the US, the Dow Jones Industrial Average gained 0.6% to 16,263, the S&P 500 was 0.7% higher at 1,843. The Nasdaq Composite rose 0.3% to 4,034.

Overnight in Asia, Japan’s Nikkei 225 rose 3.0% to 14,418, and the broader Topix index gained 2.7% to 1,167. And in China, the Shanghai Composite rose 0.2% to 2,105, and the CSI 300 added 0.1% to 2,233.

Brent spot was trading at $109.23 early today, and in New York, crude oil was at $103.87. Spot gold was trading at $1,302 an ounce, silver was at $19.50 and platinum was at $1,434.

In the forex markets this morning, sterling was trading against the US dollar at 1.6753 and against the euro at 1.2104. The dollar was trading at 0.7225 against the euro and 102.21 against the Japanese yen.

And in the UK, Burberry reported strong sales growth of 19% in Asia, which accounts for 40% of the fashion retailer’s total revenues. In the six months to the end of March, worldwide revenues rose to £1.3bn.

Merryn

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