Global markets roundup, 20 March

• FTSE 100 down 0.5% to 6,573

• Gold down 1.9% to $1,329.63/oz

• £/$ – 1.6541

The FTSE 100 fell half a percent on Budget day to 6,573.

Hargreaves Lansdown appeared to have been the main beneficiary of the chancellor’s statement. The investing platform gained 14.5% to top the index. Meanwhile, retail investment trust (Reit) Hammerson was a distant second, adding 2.5%.

The biggest faller of the day was Legal & General. The insurer and annuities provider fell 8.4%.

In Europe on Wednesday, the Paris CAC 40 fell five points to 4,308, while the German Xetra Dax gained 34 points to 9,277.

In the US, the Dow Jones Industrial Average slipped 0.7% to 16,222, the S&P 500 was down 0.6% to 1,861, as was the Nasdaq Composite at 4,308.

Overnight in Asia, Japan’s Nikkei 225 fell 1.7% to 14,224, and the broader Topix index lost 1.6% to 1,146. And in China, the Shanghai Composite fell 1.4% to 1,993, and the CSI 300 slid 1.6% to 2,087.

Brent spot was trading at $105.71 early today, and in New York, crude oil was at $100.49. Spot gold was trading at $1,331 an ounce, silver was at $20.41 and platinum was at $1,440.

In the forex markets this morning, sterling was trading against the US dollar at 1.6559 and against the euro at 1.1978. The dollar was trading at 0.7234 against the euro and 102.40 against the Japanese yen.

And in the UK, profits at clothing retailer Next are expected to overtake Marks & Spencer for the first time. Buoyant Christmas sales pushed under-lying tax profits up 12% to £695m in the 12 months to the end of January.

This article is taken from our FREE daily investment email Money Morning.
Receive our thought-provoking investment email every weekday morning plus occasional promotions & become a smarter investor.

Please enter a valid email address

To sign-up enter your email address.



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

MoneyWeek magazine

Latest issue:

Magazine cover
Hard cash

What's next for gold and silver?

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues
Shale gas 'fracking' promises to transform Britain's energy market. Find out what it is, what it means, and how to invest.

More from MoneyWeek

FREE REPORT:
What you should really do with your money (2014 Edition)


How to buy and sell penny shares

A beginner's guide to investing in gold

How to invest in British fracking