Spreadex Market Update
FTSE creeps towards 6850 despite red mining sector
Kicking things off after its Bank Holiday break the UK index rose 20 points after the bell, an upwards move that puts it on track to recover at least some of last week’s gradual losses . If anything the FTSE can feel pleased with any gains at all considering the redness of its mining sector, the likes of BHP Billiton and Rio Tinto down 2.8% and 3.4% respectively. Data-wise there isn’t much on offer this Tuesday, with the latest net lending to individuals reading (expected at £4.9 billion compared to the £5.2 billion seen last month) the only number of note.
The pound, meanwhile, trickled lower by 0.3% against the dollar and 0.2% against the euro; however, that still leaves it above 1.30 against the former and 1.17 against the latter, well within its post-Brexit trading bracket.
The Eurozone was the source of the the biggest movers this morning. The DAX surged by 1%, with the CAC not far behind; this meant the former could once again approach 10650, while the latter held strong at 4470.
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