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FTSE 100 continues to push towards new record

by LLB Reporter
16th Jan 23 12:40 pm

Like a sturdy old thoroughbred clearing hurdle after hurdle the FTSE 100 continues to press on towards a new record level despite the uncertain backdrop.

AJ Bell investment director Russ Mould said: “Asia-focused insurer Prudential was among the gainers as shares in China and other markets in the regions, bar Japan, enjoyed gains. Some of the usual direction provided to UK stocks by Wall Street will be absent today as the US marks Martin Luther King Day.

“Chinese GDP figures are out in the early hours of Tuesday morning, and they should reveal how badly scarred its economy has been by Covid lockdowns, restrictions and surging cases as the country started to open up in the final three months of 2022.

“Bank of England Governor Andrew Bailey is set to speak before MPs on Monday afternoon with investors looking for any clues on the future direction of interest rates. Later this week UK inflation figures will provide further insight into the likely trajectory of rates, with US retail sales for December another key number the market will be keeping tabs on.”

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