Markets: resource stocks drag FTSE 100 lower
The FTSE 100 ended the week with further falls on Friday, slipping 0.7% to close at 5,912.
- FTSE 100 down 0.7% to 5,912
- Gold down 0.45% to 1,104.05/oz
- £/$ - 1.4517
FTSE 100
Energy and mining stocks were once again the main drag. Royal Dutch Shell lost 5.7% as the price of oil continued to fall. Among miners, Anglo American fell 4.3%, BHP Billiton lost 3.2% and Antofagasta was 2.8% lower.
Sports Direct was the biggest single faller, down 15.3% after issuing a profits warning.
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 Europe, the Paris CAC 40 fell 1.6% to 4,333, and the German Xetra Dax lost 0.9% to 9,894.
In the US, the Dow Jones Industrial Average fell 1% to 16,346, the S&P 500 lost 1.1% to 1,922, and the Nasdaq Composite was 1% lower at 4,643.
In Japan, markets were closed for a public holiday. And in China, the CSI 300 slid 5% to 3,192, and the Shanghai Composite lost 5.3% to 3,016.
Brent spot was trading at $32.59 early today, and in New York, crude oil was at $32.38. Spot gold was trading at $1,101 an ounce, silver was at $13.96 and platinum was at $871.
In the forex markets this morning, sterling was trading against the US dollar at 1.4560 and against the euro at 1.3388. The dollar was trading at 0.9195 against the euro and 117.86 against the Japanese yen.
And in the UK, housebuilder Taylor Wimpey said it is operating on a record profit margin of over 20%, with the average selling price of its homes up by 8% in the last year to £230,000. It completed 13,341 homes in 2015, a rise of 7% on the previous year.
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