FTSE 100 up in thin trading
|The usual US-holiday drift has pervaded markets today, though rising bank stocks have supported the FTSE 100, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
FTSE 100 lifted by banks
It has been a disjointed start to the week for global markets thanks to the Chinese and US holidays which have essentially rendered Monday a write-off for most investors. Though it must be said that the dip-buying reflex remains strong, demonstrated by today’s rebound in UK bank shares, helping to lift the FTSE 100 throughout the day. Friday’s US inflation data should help see risk appetite recover, though an anxious watch continues to see which sector will fall victim next to AI disruption fears.
Gold and Silver struggle
Precious metals have had the bid knocked from underneath them today, although the selling remains muted compared to the volatility seen earlier in the month. Today marks a rare moment when gold and silver have lost ground along with bitcoin, which continues to shy away from the $70,000 level, a worrying sign for those hoping for a cryptocurrency revival.
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