Equities enjoy a solid week
|FTSE 100 struggles after choppy week
The FTSE 100 has struggled this week despite broader gains for other indices. While strong into Thursday’s session the index has lost ground following a Bank of England rate cut that didn’t deliver the dovish message many had hoped for. Once more it looks like investor appetite has shifted to growth from value, leaving the FTSE 100 out in the cold.
Risk-on week in the US
The rally in US markets continues to astound everyone. Dip buyers came storming back in on Monday thanks to hopes of Fed action in September, and the appointment of a Trump acolyte to the board confirms the dovish shift in the committee. Even signs of higher inflation have been shrugged off, and further strength in earnings season overall meant that investors are still happy to put money to work on Wall Street. Next week’s CPI might provide a stumbling block, but overall buyers can feel satisfied with August’s trading so far.
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