New records for the FTSE 100 and Gold

While French stocks recoup their losses, the FTSE 100 and gold have both pushed to new highs, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.

FTSE 100 shrugs off BoE warning to hit new peak

The Bank of England’s warning about a correction in stocks has failed to halt the risk-on atmosphere. UK, European and US bourses have advanced in lockstep as investors continue to pile into risk assets. Oil, metals and bitcoin have rallied too, confirming the broad nature of the recent gains. Recent trading has seen the FTSE 100 driven higher by a rotating cast of sectors, today’s drivers being banks and miners, long the stalwarts of the London market. Notably French stocks have recouped almost all the losses seen earlier in the week, though the atmosphere in French politics remains febrile.

Ongoing government shutdown fails to halt Wall Street

The US government shutdown goes on with no sign of a resolution, but stocks continue to ignore the standoff. Nvidia’s bullish commentary on demand has been the icing on the cake, but for most investors concerns about tariffs and inflation seem very distant. Perhaps tonight’s Fed minutes will change that, but beyond that investors can look towards the start of another earnings season that is expected to deliver further strong earnings growth.