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Commodities lead FTSE lower despite World Index fresh peak


With a couple of big FTSE100 companies going ex-dividend, and a splash of red paint across the commodity sector, the FTSE fell by 50 points as the morning continued. Despite that drop the UK index is still only 100 points away from a fresh all-time high, meaning in the grand scheme of things this is likely just a blip and not any great reversal of its current run.

As for the pound, after being knocked by the slightly weaker than expected inflation figure on Tuesday, and the wage growth dip on Wednesday, it has recovered some ground this Thursday, jumping 0.6% against the dollar – which has spent the morning giving back much of yesterday’s rate hike-eying growth – and 0.2% against the euro.

Looking ahead to the US open and Thursday’s high-hitting, if snooze-inducing, trading is set to continue, with the Dow Jones ready to open flat just above 20600. There is, at least, some data to try and get things moving, though building permits, housing starts, jobless claims and the Philly Fed manufacturing index don’t quite compare to yesterday’s inflation/retail sales double whammy.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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