Global markets roundup, 16 July

• FTSE 100 down 0.5% to 6,710

• Gold down 1% to $1,294.07/oz

• £/$ – 1.7143

The FTSE 100 fell back yesterday after inflation rose more than expected. The index closed down 0.5% at 6,710.

Imperial Tobacco was the day’s biggest faller, down 3.7%. Sector peer British American Tobacco was also out of favour, with a fall of 1.8%.

In Europe, the Paris CAC 40 fell 45 points to 4,305, and the German Xetra Dax lost 64 points to 9,719.

In the US, the Dow Jones Industrial Average rose five points to 17,060, the S&P 500 slipped  0.2% to 1,973, and the Nasdaq Composite was 0.5% lower at 4,416.

Overnight in Japan, the Nikkei 225 fell 0.1% to 15,379, and the broader Topix index was flat at 1,273. And in China, the Shanghai Composite and the CSI 300 each fell 0.2% to 2,067 and 2,170 respectively.

Brent spot was trading at $106.38 early today, and in New York, crude oil was at $100.59. Spot gold was trading at $1,300 an ounce, silver was at $20.67 and platinum was at $1,477.

In the forex markets this morning, sterling was trading against the US dollar at 1.7138 and against the euro at 1.2643. The dollar was trading at 0.7377 against the euro and 101.67 against the Japanese yen.

And today, Sports Direct boss Mike Ashley has said he will not take part in the company’s controversial £200m bonus scheme The scheme was only approved by shareholders after four attempts. Share in Sports Direct rose this morning on the news.

• Stay up to date with MoneyWeek: Follow us on TwitterFacebook and Google+

MoneyWeek magazine

Latest issue:

Magazine cover
Why you should worry about Greece

...and how to protect your wealth

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues

From ADRs to Z scores – all the terms you wish you understood, but were too embarrassed to ask about.

Gervais Williams: if you want real dividend growth, buy small-cap stocks

Merryn Somerset Webb interviews small-cap stock expert Gervais Williams about how penny shares outperform blue chips 'again and again'.


Which investment platform is the right one for you?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from, with varying fees and charges. Find out which is best for you.


3 July 1767: Pitcairn Island is discovered


Pitcairn Island was spotted on this day in 1767 by 15-year old midshipman Robert Pitcairn, serving on HMS Swallow. It was marked wrongly on the ship's chart, and was promptly lost again.


Anatomy of a Grexit: how Greece would go about leaving the euro

Jonathan Loynes and Jennifer McKeown, economists at Capital Economics, look at the key issues and challenges of a Grexit, how it might be best managed, and set out a timetable for change.