Banks and energy stocks were the flavour of the day on Tuesday, but sadly not enough to stop the FTSE 100 from slipping 0.1% to 6,791 as pharma and consumer goods stocks weighed on the index, says Russ Mould, investment director at AJ Bell.
“After an impressive start to the year, equity markets are finding it harder to push ahead this week amid growing expectations for the Federal Reserve to start easing back on its monetary support measures towards the end of the year. However, expectations could easily change if the pandemic continues to trouble the US for months to come.
“We’re in a period where investors are trying to get their head round what could happen next.
“For much of 2020 the market was concerned about how much support central banks and governments would provide to help avoid severe economic crash.“