Markets: financial stocks drive the FTSE 100 higher
The FTSE 100 ended the week on a high note on Friday, adding 0.6% to close at 6,138.
- FTSE 100 up 0.6% to 6,138
- Gold up 0.77% to $1,273.45/oz
- £/$ 1.4365
Bankers were in demand. Standard Chartered led the sector up with a 3.5% rise, while Lloyds added 2.3% and HSBC gained 1.7%. Tesco was the day's top performer, up 3.9%.
In Europe, the Paris CAC 40 gained 0.6% to 4,312, and the German Xetra Dax rose 0.9% to 9,952.
In the US, the Dow Jones Industrial Average slid 1% to 17,535, the S&P 500 lost 0.9% to 2,046, and the Nasdaq Composite was 0.4% lower at 4,717.
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
Overnight in Japan, the Nikkei 225 gained 0.3% to 16,466 and the broader Topix index was 0.1% higher at 1,321. And in China, the CSI 300 added 0.7% to 3,095 and the Shanghai Composite rose 0.8% to 2,850.
Brent spot was trading at $48.57 early today, and in New York, crude oil was at $46.89. Spot gold was trading at $1,282 an ounce, silver was at $17.29 and platinum was at $1,053.
In the forex markets this morning, sterling was trading against the US dollar at 1.4352 and against the euro at 1.2683. The dollar was trading at 0.8837 against the euro and 108.76 against the Japanese yen.
And in the UK, the Church of England made a return of 8.2% on its investments last year, well above the 2% target set by the Church Commissioners. Over the last 30 years, it has made an annual return of 9.7%, and its investments are now reckoned to be worth some £7bn.
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