Of the major indices the FTSE was the biggest loser, falling 40 points thanks to the red-tinged state of its commodity stocks.
Despite Brent Crude climbing back above $46.50 per barrel the oil stocks still weren’t happed with the greenback’s gains this week, causing BP and Shell to drop between 0.5% and 1%. With both copper and gold slipping half a percent the miners were an even bigger drag on the FTSE; Rio Tinto, Anglo American and Antofagasta all fell between 2.5% and 4.5%, while Fresnillo and RandGold Resources plunged 4.5% and 6.3% respectively.
The Eurozone indices found little joy in the euro continuing its record losing streak against the dollar (though the currency has managed to crawl back above $1.06), with both the DAX and the CAC dipping by 15 points.
Looking ahead to the US open and the Dow Jones seems mildly perturbed by the dollar’s rate hike-eyeing strength – even if the greenback hasn’t actually made much ground today – with the futures pointing to a 25 point drop after the bell. That would leave the Dow back under 18900, a mark that has become the index’s latest resistance level post-election.
