Copper underpins FTSE 100 gains
Copper's surge put miners in the driving seat today in London, but government shutdown risk looms in the US, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
FTSE 100 advances on copper strength
Gains in copper have given miners a boost this afternoon, which has resulted in the index making an impressive recovery off the lows of the session. European markets as a whole have had a better day thanks to a rising dollar and renewed government shutdown worries in the US. JD Sports has spent the day trying to rally but the gloomy tone of this morning’s interims are bound to leave investors disappointed.
US government shutdown risk rises
The dollar’s recovery from its September low continues as safe haven buying begins to revive ahead of next week’s possible government shutdown. Market veterans will regard the whole sorry prospect as an unnecessary drama, just with the roles reversed from the last time. Predictions of market meltdown are likely to be wide of the mark however, such events being a wearisome but seemingly-permanent feature of modern US governance.
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