Weaker sterling spurs turnaround for FTSE 100 as oil and retailers rally

LONDON (Reuters) – Britain’s main stock index .FTSE rose 0.4 percent to within a whisker of its recent record high, reversing an earlier swoon as oil majors jumped higher and the U.S. dollar gained back ground against sterling, helping UK-listed dollar earners. The London Stock Exchange Group offices …

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Weaker sterling spurs turnaround for FTSE 100 as oil and retailers rally

The gains across the board in retail were likely to have squeezed the many short sellers betting on the sector’s downfall. Of the top ten most-shorted FTSE 100 stocks, five are in retail. EU regulatory reforms under the MiFID II market directive that came into force on Wednesday had little early impact on …

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LONDON MARKET CLOSE: Weaker Pound, Next Update Help Stocks End Higher

LONDON (Alliance News) – Despite spending most of Wednesday struggling to post any gains, the FTSE 100 ended the session higher after the pound was hit by a weaker-than-expected construction PMI reading, and further dented as the latest US ISM manufact…

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UPDATE 1-Weaker sterling spurs turnaround for FTSE 100 as oil and retailers rally

LONDON, Jan 3 (Reuters) – Britain’s main stock index rose 0.4 percent to within a whisker of its recent record high, reversing an earlier swoon as oil majors jumped higher and the U.S. dollar gained back ground against sterling, helping UK-listed dollar earners. Oil majors Royal Dutch Shell and BP …

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U.S. Construction Spending Climbs More Than Expected In November

Primarily reflecting a jump in spending on private construction, the Commerce Department released a report on Wednesday showing a bigger than expected increase in U.S. construction spending in the month of November.

The Commerce Department said const…

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*Crude Oil Smashes Through $61

Crude Oil Smashes Through $61

The material has been provided by InstaForex Company – www.instaforex.com

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3 Small-Cap Blockchain Plays

Small-cap laggards are changing corporate identities and jumping on the blockchain bandwagon, triggering strong momentum rallies.

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FTSE 100 follows US markets higher as Nasdaq and S&P 500 hit fresh highs once again

The FTSE 100 has finally started to show some signs of life after moping around yesterday’s close for most of the session so far. As expected the markets over in New York have started the day where they left off on Tuesday, with all three of the major indices opening higher at the bell. Their UK …

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FTSE 100 movers: Next rallies as it lifts guidance; Ashtead boosted by upgrade

London’s FTSE 100 was up 0.3% to 7,668.66 in afternoon trade on Wednesday thanks to a solid performance from retailers. Next surged as it nudged up its full-year profit target after a better online sales performance in the run up to Christmas, but the clothing retailer said it expects profits to fall in the …

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Peter Thiel's Founders Fund Bets Big On Bitcoin

Peter Thiel, who is Paypal co-founder and an angel investor known for early bets on Facebook and SpaceX, has added bitcoin into his portfolio even as other venture capitalists remain wary of the highly volatile cryptocurrency.

Founders Fund, a ventu…

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Mixed Sentiment in Cryptocurrency Market

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Peter Thiel's Founders Fund Bets Big On Bitcoins

Peter Thiel, who is Paypal co-founder and an angel investor known for early bets on Facebook and SpaceX, has added bitcoin into his portfolio even as other venture capitalists remain wary of the highly volatile cryptocurrency.

Founders Fund, a ventu…

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European Assets not Giving Way to Greenback

The EUR/USD pair is consolidating throughout the European trades. The single currency came off 1.2060 level against the greenback. The pair is holding at 1.2040. However, experts doubt that the euro will go lower given upbeat macroeconomic statistics from Germany. The largest economy of the euro area keeps delivering solid reports. In December, the number of people unemployed shrank by 29,000 in Germany. A drop of 12,000 had been anticipated. Besides, experts […]

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Is the FTSE 100 ‘overvalued’ at 7600 points?

During the last few days of 2017, the FTSE 100 enjoyed a classic ‘Santa Rally’ and broke out to a new high. It trades at 7,650 points as I write. So does the high level of the index mean that it’s overvalued at present? Is now the time to be avoiding shares, or could the index run higher in 2018? Let’s take a …

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Daily Forex News and Analysis — January 3rd 2018

Wall Street finished in the green on the first trading day of 2018 as the NASDAQ breached 7,000 points for the first time. The Dow Jones rose by 0.42%, the S&P 500 by 0.83%, and the NASDAQ added 1.50% to its value. The US dollar traded lower against the other major currencies with a lack of key economic data and low trading volume. The Final Manufacturing PMI came at 55.1 vs. 55 forecast. Today, the ISM Manufacturing PMI is […]

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Crude Oil Rallies To Fresh 2-Year Highs

Crude oil futures resumed their rally Thursday morning ahead of U.S. inventories data.

The American Petroleum Institute will report its stockpiles survey this afternoon, followed tomorrow by the Energy Information Administration’s weekly report.

Inv…

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Gold Flat After Six-day Rally

Gold futures were flat Thursday, unable to extend recent gains as traders await the first flurry of economic data in the new year.

Feb. gold was down 20 cents at $1316 an ounce, staying near 4-month peak from the previous session. Gold has rallied on…

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USD Rebounds, but Out of Favor at Start of 2018

Weakness seen in the DXY Index at the start of 2018 is seen not only as follow-through from 2017, but investors pricing expectations for future policy endeavors.

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