FTSE goes oily & metallic

The FTSE100 started the week on the front foot, helped by the recovery in global commodity prices, with oil, copper, and gold all higher, as well as positive market sentiment ahead of US-Chinese trade talks.

FTSE goes oily & metallic

The FTSE100 started the week on the front foot, helped by the recovery in global commodity prices, with oil, copper, and gold all higher, as well as positive market sentiment ahead of US-Chinese trade talks in Washington later this week, which adds further strength to many of the China-exposed Mining shares. Sterling weakness due to the persistent anxiety of “hard Brexit” is flattering many members of the FTSE’s international coterie.

Contributors: FTSE +35pts, helped by Miners (higher copper prices), Energy (higher oil prices), HSBA (Asia exposure, heavyweight), NMC (positive results) and RBS (weak GBP). Struggling to contain FTSE’s advance is SGE (Deutsche Bank downgrade). Technicals: The FTSE100 is testing a bullish breakout out of the 2-week falling channel.

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Categories: Analysis, News, Shares
Tags: FTSE 100

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