Markets: commodity stocks lift FTSE 100
The FTSE 100 ended the week on a high on Friday, driven by rising energy and mining stocks. The index rose 0.7% to close at 6,873.
- FTSE 100 up 0.7% to 6,873
- Gold up 0. 6% to $1,229.43/oz
- £/$ - 1.5395
Tullow Oil was the day's top performer, up 5.2%. BHP Billiton rose 5%, BG Group added 4.3%, and Rio Tinto was 3.7% higher.
In European markets, the Paris CAC 40 rose 0.7% to 4,759, and the German Xetra Dax added 0.4% 10,963.
In the US, the Dow Jones Industrial Average gained 0.3% to 18,019, the S&P 500 was 0.4% higher at 2,096, and the Nasdaq Composite added 0.8% to 4,893.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely 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
Overnight in Japan, the Nikkei 225 rose 0.5% to 18,004, and the broader Topix index was 0.7% higher at 1,459. And in China, the Shanghai Composite rose 0.6% to 3,222, and the CSI 300 added 0.9% to 3,499.
Brent spot was trading at $60.92 early today, and in New York, crude oil was at $52.23. Spot gold was trading at $1,234 an ounce, silver was at $17.36 and platinum was at $1,210.
In the forex markets this morning, sterling was trading against the US dollar at 1.5407 and against the euro at 1.3491. The dollar was trading at 0.8756 against the euro and 118.60 against the Japanese yen.
And in the UK, commercial property firm Hammerson reported a big rise in profits for the year. Profit before tax at the company, which owns Brent Cross shopping centre in London and the Bullring in Birmingham, more than doubled to £703.1m, up from £341.2m in the previous 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.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Energy bills to rise by 1.2% in January 2025
Energy bills are set to rise 1.2% in the New Year when the latest energy price cap comes into play, Ofgem has confirmed
By Dan McEvoy Published
-
Should you invest in Trainline?
Ticket seller Trainline offers a useful service – and good prospects for investors
By Dr Matthew Partridge Published