FTSE 100 drifts but Oil price jumps on Doha news

Chris Beauchamp IG

Mining M&A has failed to boost the FTSE 100 but renewed Middle East tensions provoked a spike in oil, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.

FTSE 100 flails despite Anglo American news

A jump in Anglo American has failed to provide the spark for a broader FTSE 100 rally today. The index, along with most other global indices, seems to still be in search of a catalyst to renew the move higher. No doubt this is due to caution ahead of the vital US inflation print this week, which itself is just a prelude to next week’s expected Fed rate cut.

Oil surges on Middle East tensions

The Middle East has dropped off investor radar since the Israel-Iran conflict, but the Doha attack has helped lift oil prices this afternoon. The strike threatens to reignite tensions within the region, but OPEC’s recent production increase should help contain the price surge.

Author

Chris Beauchamp

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