The FTSE 100 closed up another 0.7% yesterday at 5,328, as defensive and energy stocks made good gains.
Pharmaceutical companies performed well, with GSK up 1.9% and AstraZeneca rising 1.8%; and among other defensive stocks, Unilever added 2% and Imperial Tobacco rose 1.8%.
Energy shares made modest gains despite a slip in the price of crude. Royal Dutch Shell climbed 2.3% and BP rose 1.1%. BG Group, however, fell 0.2%.
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
Banks fared poorly overall. Although HSBC rose 0.1% and Lloyds was flat, Barclays fell 0.2% and RBS was 3% lower.
And mining stocks were among the day's poorest performers. Fresnillo lost 3.7%, Kazakhmys and Xstrata lost 1.2% and 1.1% respectively, but ENRC bucked the sector trend with a rise of 0.3%.
Read the latest stock market news and charts here.
Europe
In Europe, the Paris CAC 40 rose 26 points to 3,898; and the German Xetra Dax was 15 points higher at 5,946.
US
In the US, the Dow Jones climbed 0.5% to 10,464; the S&P 500 gained 0.4% to 1,118; and the Nasdaq Composite was 0.7% higher at 2,252.
Asia
In Japan, markets were closed. And in China, the Shanghai Composite index rose 0.8% to 3,073; and the CSI 300 closed up 0.9% at 3,336.
Commodities
Brent spot was trading at $72.90 early today, and in New York, crude oil was at $74.68. Spot gold was trading at $1,086 an ounce, silver was at $16.97 and platinum was at $1,395
Currencies
In the forex markets this morning, sterling was trading against the US dollar at 1.5939 and against the euro at 1.1189. The dollar was trading at 0.702 against the euro and 91.79 against the Japanese yen.
UK news
And in the UK, Britons are paying off their debt at a record pace. In the three months to September, families were saving an average of £300 a month, according to the Office of National Statistics.
-
-
Pension withdrawals on the rise, HMRC data reveals
Pension withdrawal data has led to some raising concerns over savers ‘raiding’ their pensions unsustainably.
-
ONS: UK economy recovered from pandemic faster than previously thought
Revisions from the ONS showed the UK economy has grown since the pandemic, while the latest data showed GDP grew in the second quarter of 2023.
