The FTSE 100's run of falls came to an end yesterday as stocks bounced back. The index climbed 1.1% to close at 6,830.
Supermarkets were in demand. Morrisons led the sector up with a 5.4% rise, while Tesco added 4.6% and Sainsbury's was 4.5% higher. The day's best performer was Standard Chartered, which gained 5.8%.
In Europe's markets yesterday, the Paris CAC 40 rose 1.8% to 4,934, and the German Xetra Dax added 2.4% to 11,265.
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
In the US, the Dow Jones Industrial Average rose 1.3% to 18,000, the S&P 500 added 1.2% to 2,105, and the Nasdaq Composite was 1.3% higher at 5,076.
Overnight in Japan, the Nikkei 225 rose 1.7% to 20,382, and the broader Topix index gained 1.3% to 1,648. And in China, the Shanghai Composite added 0.3% to 5,121, and the CSI 300 slipped two points to 5,306.
Brent spot was trading at $65.71 early today, and in New York, crude oil was at $61.34. Spot gold was trading at $1,184 an ounce, silver was at $15.88, and platinum was at $1,110.
In the forex markets this morning, sterling was trading against the US dollar at 1.5442 and against the euro at 1.3704. The dollar was trading at 0.8874 against the euro and 123.53 against the Japanese yen.
And in the UK, the government has sold half of its remaining 30% stake in Royal Mail for £5 a share, raising £750m. Separately, the government says it is to start selling off its stake in RBS, giving up on his stated aim to sell at a profit after the bank's £46bn bailout in 2008.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
