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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.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Michael Morton

Michael Morton

Michael has worked within the Financial Industry for more than 20 years. Starting out as a financial analyst, he has extensive experience working with fund management groups and brokerages.

With an interest in Stocks and Shares, Funds, ETFs and Commodities, his investment focus is medium to long term gains, with the objective of financial security on retirement, and building wealth for his young children for their adult life. His broker of choice is Hargreaves Lansdown.

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