Global markets roundup, 8 April

• FTSE 100 down 1.1% to 6,622

• Gold down 0.48% to $1,297.35/oz

• £/$ – 1.6608

The FTSE 100 started the week in a downbeat mood yesterday, following the rest of the world’s markets down to close 1.1% lower at 6,622.

Housebuilders were under fire as concerns over a house-price bubble grow.  Barratt Developments was the day’s worst performer with a fall of 5%, and Persimmon lost 4%.

In Europe yesterday, the Paris CAC 40 fell 48 points to 4,436 and the German Xetra Dax slid 180 points to 9,510.

In the US, the Dow Jones Industrial Average lost 1% to 16,245, the S&P 500 fell 1.1% to 1,845, and the Nasdaq Composite was 1.2% lower at 4,079.

Overnight in Japan, the Nikkei 225 fell 1.4% to 14,606, and the broader Topix lost 1.9% to 1,174. And in China, the Shanghai Composite rose 1.9% to 2,098, and the CSI 300 added 2.4% to 2,237.

Brent spot was trading at $106.49 early today, and in New York, crude oil was at $101.28. Spot gold was trading at $1,308 an ounce, silver was at $19.99 and platinum was at $1,432.

In the forex markets this morning, sterling was trading against the US dollar at 1.6637 and against the euro at 1.2096. The dollar was trading at 0.7270 against the euro and 102.70 against the Japanese yen.

And in the UK, salaries for newly-employed permanent staff are rising at their fastest rate for seven years, according to the latest figures from the Recruitment and Employment Confederation. And the Bank of England has forecast that wages will grow faster than inflation this year for the first time since 2008.

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

Hedge fund manager Hugh Hendry: 'It felt like the sun rose only to humiliate me'

In a series of three short videos, Merryn Somerset-Webb talks to Hugh Hendry, manager of the Eclectica hedge fund, about everything from China to the US, Europe, and Japan.


Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.


22 December 1973: Opec more than doubles the price of oil

On this day in 1973 Opec, the oil price cartel, more than doubled the price of oil from $5.12 a barrel to $11.65.