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Markets perk up

by LLB Reporter
15th May 23 11:18 am

A weekend of sunshine appears to have put investors in a better mood, with the main UK market indices doing their best to start the new week on the front foot. The FTSE 100 advanced 0.2% to 7,771, led by banks, retail and mining.

Russ Mould, investment director at AJ Bell, said: “Key economic announcements to watch this week include the UK unemployment rate on Tuesday, which is forecast to stay flat 3.8%. On Friday, the latest GfK consumer confidence index will be published and is expected to show the fourth month in a row of improvement.

“There is still room for last minute wobbles at the end of the week when Federal Reserve chair Jerome Powell holds a public discussion with former chair Ben Bernanke in Washington. Markets will be looking for any nugget of information that could give a hint to the Fed’s next move with interest rates.” 

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