Markets: FTSE 100 back on the rise
The FTSE 100 bounced back to near-record highs yesterday. The index closed up 0.6% at 6,898.
- FTSE 100 up 0.6% to 6,898
- Gold down 1.76% to $1,209.77/oz
- £/$ - 1.5354
Sin stocks' were firmly to the fore. Drinks company Diageo was the top performer with a 2.5% rise, while Imperial Tobacco added 2.2% and British American Tobacco rose 1.9%.
In European markets, the Paris CAC 40 rose two points to 4,753, and the German Xetra Dax fell 0.3% 10,895.
In the US, the Dow Jones Industrial Average and the the S&P 500 each rose 0.2% to 18,047 and 2,100 respectively, and the Nasdaq Composite was 0.1% higher at 4,899.
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Overnight in Japan, the Nikkei 225 gained 1.2% to 18,199, and the broader Topix index added 1.4% to 1,482. China's markets were closed for a public holiday.
Brent spot was trading at $62.11 early today, and in New York, crude oil was at $53.18. Spot gold was trading at $1,210 an ounce, silver was at $16.41 and platinum was at $1,171.
In the forex markets this morning, sterling was trading against the US dollar at 1.5362 and against the euro at 1.3478. The dollar was trading at 0.8773 against the euro and 119.14 against the Japanese yen.
And today, housebuilder and construction firm Galliford Try has announced a record set of results for the first half of the year. Pre-tax profits for the six months to 31 December rose by 12% to £42.5m. Revenue rose by 35% to £1.09bn.
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.
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