11,000 still in sight for FTSE 100
Investors continue to find reasons to like the FTSE 100, while gold's recent bounce has waned, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.
FTSE 100 presses on towards 11,000
Yet another broad-front advance for the FTSE 100 has helped the index take another firm step forward towards the next big round number. Some early weakness this morning was met with fresh buying, with the index’s absence of tech once again proving to be a boon especially with Nvidia’s results looming in a few hours. It has been a good week for European markets overall, helped along by the reversal in oil prices, and even some buying of the lows in oil today hasn’t dimmed the rally.
Gold reverses course
The shine seems to have come off gold however. While the rally had been given a new lease of life after Bessent’s meddling, the yellow metal appears to be suffering from altitude sickness. Warsh’s speech on Friday looms large, given the expectations around what he might say as investors gear up for September’s Fed decision.
Author
Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.
