Markets: FTSE 100 slips back

FTSE 100 down 0.3% to 6,729 Gold down 0.37% to $1,197.09/oz £/$ - 1.5706

The FTSE 100 slipped back yesterday, falling 0.3% to close at 6,729.

Oil services firm Petrofac was the day's biggest faller, sliding 23.7% after it issued a profit warning. At the other end of the table, Friends Life rose by 10.6% after news of the takeover by Aviva. Aviva shares fell by 4.1%.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

In European markets, the Paris CAC 40 rose 21 points to 4,368, and the German Xetra Dax added 53 points to 9,785.

In the US, the Dow Jones Industrial Average rose seven points to 17,817, the S&P 500 added 0.3% to 2,069, and the Nasdaq Composite was 0.9% higher at 4,754.

Overnight in Japan, the Nikkei 225 gained 0.3% to 17,407, and the broader Topix rose 0.6% to 1,409. And in China, the Shanghai Composite and the CSI 300 each rose 1.4% to 2,567 and 2,685 respectively.

Brent spot was trading at $79.55 early today, and in New York, crude oil was at $75.60. Spot gold was trading at $1,201 an ounce, silver was at $16.53 and platinum was at $1,213.

In the forex markets this morning, sterling was trading against the US dollar at 1.5684 and against the euro at 1.2613. The dollar was trading at 0.8042 against the euro and 118.05 against the Japanese yen.

And in the UK, Severn Trent, Britain's second-largest utility company, reported a 10% rise in profit. Underlying pre-tax profit for the six months to the end of September rose to £155.8m, up from £141.3 in the same period last year.

David Stevenson, former MoneyWeek writer and director of The Fleet Street Letter, believessilver could be about to start a record climb. Click here(capital at risk)to read about the three irresistible forces David believes could push the price of silver through the roof.