- The FTSE 100 has risen for 16 consecutive sessions after inching over the line.
- The index closed up 0.012% at 8597.
- Gold miners among the biggest gainers as the precious metal rose in value.
Susannah Streeter, head of money and markets, Hargreaves Lansdown:
‘’The FTSE 100 was faltering earlier and looked set to take a breather from its winning streak but found more footing in late trading to inch higher. It’s closed higher, by a whisker, for the 16th session in a row. Investors have been finding appeal in the defensive nature of the index and looking for assets which could present value amid the uncertainty. Worries about trade turmoil have been soothed a little by a deal signed between the UK and India and hopes for fresh accords between the US and the rest of the world. But as markets await fresh ink on dotted lines, there is still plenty of uncertainty around, especially given that Trump has vowed to impose tariffs on the movie industry and has renewed his threat to impose duties on the pharmaceutical sector.
So, it’s not surprising that some investors still appear to be hedging their bets and despite the renewed enthusiasm for equities, gold is shining again as a safe haven, with the precious metal rising by around 2% in trading today. The gains in the price of gold have help lift the share prices of gold miners Fresnillo and Endeavour Mining are top of the stocks today, with the biggest daily gains on the FTSE 100. With key interest rate decisions due this week, investors look set to settle into wait and see mode, with ears trailed on what central bankers have to say about growth, inflation and the health of economies.’
