After a big rebound in the US tech sector overnight the FTSE 100 enjoyed a more prosaic start to proceedings on Wednesday morning, trading a touch lower but still above the 6,700 mark, says AJ Bell investment director Russ Mould.
“For the first time in a while the heavy presence of resources firms on the index is a hindrance rather than a help, as the FTSE underperforms its European counterparts with some of the heat coming out of the recent commodities mini-boom.
“Given the focus on inflation and the part it has played in recent market volatility in the bond and equity markets, the latest print of US inflation, due later, could be a big moment in determining the direction markets take next.”
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