Markets: commodities continue to drive FTSE 100 up
The FTSE 100 continued its pre-Christmas surge yesterday, adding a further 2.6% to close at 6,240.
- FTSE 100 up 2.6% to 6,240
- Gold down 0.19% to 1,070.50/oz
- £/$ - 1.4871
FTSE 100
Commodity stocks were once again the main drivers. Anglo American topped the index with a 9.1% rise, while Glencore added 8.5% and BHP Billiton was 6.8% higher. Royal Dutch Shell rose 4.8% and BP gained 4.5%.
In Europe, the Paris CAC 40 rose 2.3% to 4,674, and the German Xetra Dax gained 2.3% to 10,727.
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 1.1% to 17,602, the S&P 500 added 1.2% to 2,064, and the Nasdaq Composite was 0.9% higher at 5,045.
Overnight in Japan, the Nikkei 225 fell 0.5% to 18,789, and the broader Topix index was 0.7% lower at 1,523. And in China, the CSI 300 fell 1% to 3,829, and the Shanghai Composite lost 0.7% to 3,612.
Brent spot was trading at $37.52 early today, and in New York, crude oil was at $37.78. Spot gold was trading at $1,074 an ounce, silver was at $14.32 and platinum was at $874.
In the forex markets this morning, sterling was trading against the US dollar at 1.4873 and against the euro at 1.3576. The dollar was trading at 0.9128 against the euro and 120.38 against the Japanese yen.
And in the UK, Sirius Minerals says it has signed a deal to supply up to 500,000 tonnes of fertiliser a year to Chinese firm Huaken International from its potash mine set to be built in the North Yorkshire Moors national park.
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.
-
Ofgem proposes new energy tariffs with low or no standing changes
Standing charges have invited public backlash as households battle high energy bills
By Katie Williams Published
-
Google shares bounce on Gemini 2.0 launch
Google has launched the latest version of its Gemini AI platform, and markets have responded positively. Is it time to buy Google shares?
By Dan McEvoy Published