Markets: FTSE 100 ends a torrid week on a high note

The FTSE closed higher on Friday as investors’ fears that Britain would leave the EU receded somewhat. The index closed up 1.2% at 6,021.

  • FTSE 100 up 1.2% to 6,021
  • Gold up 1.58% to $1,298.65/oz
  • £/$ 1.4358

Financial stocks were among the top performers. Lloyds led the index up with a 6% rise, while Standard Chartered rose 5.1%, Barclays added 4.6% and RBS was 3.7% higher, Housebuilders were also in demand, with Taylor Wimpey, Berkeley Group and Persimmon up between 4.5% and 3.6%,

In Europe, the Paris CAC 40 rose 1% to 4,193 and the German Xetra Dax added 0.8% to 9,631.

In the US, the Dow Jones Industrial Average and the S&P 500 each fell 0.3% to 17,675 and 2,071 respectively, and the Nasdaq Composite was 0.9% lower at 4,800.

Overnight in Japan, the Nikkei 225 rose 2.3% to 15,965 and the broader Topix index gained 2.3% to 1,279. And in China, the CSI 300 added 0.1% to 3,112 and the Shanghai Composite was 0.1% higher at 2,888.

Brent spot was trading at $49.97 early today, and in New York, crude oil was at $48.67. Spot gold was trading at $1,287 an ounce, silver was at $17.52 and platinum was at $974.

In the forex markets this morning, sterling was trading against the US dollar at 1.4593 and against the euro at 1.2864. The dollar was trading at 0.8815 against the euro and 104.54 against the Japanese yen.

And in the UK, property asking prices rose to a record high last month, according to the latest figures from Rightmove. Nationwide, asking prices rose by 0.8% in May, making the average £310,471. In London, however, asking prices fell by 0.2%.

Recommended

Julian Brigden: markets are at a huge inflexion point
Investment strategy

Julian Brigden: markets are at a huge inflexion point

Merryn talks to Julian Brigden of Macro Intelligence 2 Partners about the unwinding of the US stockmarket's super-bubble, and the risks and opportunit…
25 Jan 2022
Has growth investing had its day? Don’t be so sure
Growth investing

Has growth investing had its day? Don’t be so sure

Markets – and “jam tomorrow” growth stocks in particular – continue to crash, with some analysts forecasting a 50% drop or more. But, says Max King, a…
25 Jan 2022
Tech stock carnage: do you think Apple, Amazon and Alphabet will save you? Think again
Tech stocks

Tech stock carnage: do you think Apple, Amazon and Alphabet will save you? Think again

As tech stocks continued to slide, there is a view that you can escape all the carnage by holding really high quality profitable stocks. That view is …
24 Jan 2022
Which assets will benefit as the “jam tomorrow” bubble pops?
Investment strategy

Which assets will benefit as the “jam tomorrow” bubble pops?

With tech stocks, cryptocurrencies and many other “long duration” investments crashing hard, the “jam tomorrow” bubble looks to be bursting. John Step…
24 Jan 2022

Most Popular

Shareholder capitalism: why we must return power to listed companies’ ultimate owners
Investment strategy

Shareholder capitalism: why we must return power to listed companies’ ultimate owners

Under our system of shareholder capitalism it's not fund managers, it‘s the individual investors – the company's ultimate owners – who should be telli…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Ask for a pay rise – everyone else is
Inflation

Ask for a pay rise – everyone else is

As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why yo…
17 Jan 2022