Positive News Lifts FTSE 100 Towards 5300: Financial Spread Betting Report
Financial Market Comments from David Jones, Chief Market Strategist, IG Index.
In mid-morning trading positive news flow has lifted the FTSE 100 towards the 5300 mark.
After a dismal few days, UK investors have found something to be cheerful about so far this morning.
UK producer prices have risen at their fastest rate in nine months, suggesting business is still on the upswing for factories. However, course this also raises the spectre of inflation a bit further down the line.
Also today, credit rating agency Moody’s stated that it has no immediate plans to downgrade the US and UK. Earlier this week it was these sort of concerns expressed by the ratings agencies that had put pressure on markets.
Some sense of normality has returned to the market – with the miners as ever helping to drag the index up.
This afternoon there are still retail sales figures to come out of the US and the potential for a shock later can’t be ruled out. But for now it looks like much of the worries from earlier in the week have been shaken off.
The above comments do not constitute investment advice Clean Financial accepts no responsibility for any use that may be made of them.
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