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FTSE higher after seesaw session on a Wall Street

by LLB Editor
23rd Jun 20 10:28 am

The FTSE 100 was firmly higher on Tuesday after traders on Wall Street were left with sore necks thanks to the whiplash-like nature of last night’s session,” says AJ Bell investment director Russ Mould.

“Comments from the Trump administration that the US-China trade deal was over led to selling before a rapid clarification and a tweet from Donald Trump himself confirmed the deal was ‘fully intact’ saw stocks close materially higher – the tech-heavy Nasdaq index even reaching a new record high.

“Strong manufacturing data from the Eurozone also helped investors put on a happy face, although second wave concerns and geopolitical strife linked to Hong Kong have not gone away.

“Oil prices continue to creep up with the global benchmark Brent now firmly above $40 per barrel as lockdown measures start to be eased and supplies begin to tighten. Gold retained its shine though at $1,754 per ounce, suggesting there is still demand for safe havens amid lingering uncertainty.”

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