Global markets roundup, 28 October

• FTSE 100 up 0.1% to 6,721
• Gold up 0.3% to $1,350.80/oz
• £/$ – 1.6165

The FTSE 100 ended slightly higher on Friday, edging up just 0.1% to close at 6,721.

RBS was the day’s top performer, adding 3.3%. Elsewhere in the sector, Barclays rose 0.5% and Lloyds was 0.3% higher.

In Europe, the Paris CAC 40 slipped three points to 4,272, and the German Xetra Dax gained five points to 8,985.

In the US, the Dow Jones Industrial Average and the S&P 500 each rose 0.4% to 15,570 and 1,759 respectively. The Nasdaq Composite was also up 0.4% higher at 3,955.

Overnight in Asia, Japan’s Nikkei 225 leapt 2.2% to 14,396, and the broader Topix index added 1.7% to 1,198. And in China, the Shanghai Composite added one point to 2,133, and the CSI 300 fell 0.1% to 2,365.

Brent spot was trading at $107.39 early today, and in New York, crude oil was at $97.72. Spot gold was trading at $1,350 an ounce, silver was at $22.54 and platinum was at $1,453.

In the forex markets this morning, sterling was trading against the US dollar at 1.6196 and against the euro at 1.1728. The dollar was trading at 0.7241 against the euro and 97.60 against the Japanese yen.

And in the UK, consumer credit is on the rise for the first time since the financial crisis  as confidence returns. The EY Item Club is forecasting a 1.5% increase in lending to consumers this year. However, lending to businesses is expected to fall by 4%.

• This article is taken from our free daily investment email, Money Morning. Sign up to Money Morning here.

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.