Markets: FTSE 100 down from record high

published 26 February 2015

FTSE 100 down 0.2% to 6,935
Gold up 0.38% to $1,205.05/oz
£/$ - 1.5454

Oil services company Weir was the day's biggest faller, down 8.8% after warning that the low price of crude would dent profits.

In the US, the Dow Jones Industrial Average rose 0.1% to 18,224, the S&P 500 lost 0.1% to 2,113, and the Nasdaq Composite was one point lower at 4,967.

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Overnight in Japan, the Nikkei 225 gained 1.1% to 18,785, and the broader Topix index added 0.9% to 1,521. And in China, the Shanghai Composite rose 2.2% to 3,298, and the CSI 300 added 2.5% to 3,566.

Brent spot was trading at $61.47 early today, and in New York, crude oil was at $50.43. Spot gold was trading at $1,216 an ounce, silver was at $16.83 and platinum was at $1,185.

In the forex markets this morning, sterling was trading against the US dollar at 1.5519 and against the euro at 1.3670. The dollar was trading at 0.8808 against the euro and 118.75 against the Japanese yen.

And today, RBS reported a loss of £3.47bn for 2014, down from £9bn the previous year. The bank, which is 79% owned by the taxpayer, said the loss was the result of one-off charges, including a £4bn write-down of its stake in US bank Citizens Financial Group.

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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