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FTSE finds its way to fresh highs despite negative news from China


Rising 0.3% the index continued its preference for unexciting, but undeniably consistent, growth, briefly crossing 7330 just after the bell before settling back just above 7320. This despite some slight gains for the pound, with sterling rising 0.2% against the dollar, though it is still stuck below $1.22, and 0.1% against the euro, where it is struggling in the mid-€1.14s.

The FTSE likely could have managed something a bit more robust this morning if it weren’t for weak data from China weighing on the miners. With Chinese exports seeing their biggest yearly drop since 2009, down 7.7% across 2016, and imports falling a troublesome 5.5%, the likes of Rio Tinto and Antofagasta found themselves in the red as Friday got underway.

Over in the Eurozone there wasn’t really much to work with, though this didn’t stop the DAX and CAC rising by 0.4% and 0.5% respectively.

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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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