Home Business News Yo-yo start for FTSE with mini-Budget in focus

Yo-yo start for FTSE with mini-Budget in focus

by LLB Editor
8th Jul 20 11:16 am

The FTSE 100 started off sharply lower before yo-yoing back to near parity in early trading on Wednesday, says AJ Bell investment director Russ Mould.

“The market’s apparent indecision is understandable when you consider it has to balance the ongoing risks from coronavirus with the willingness of governments and central banks to prop up the global economy.

“In the UK there will be focus on Chancellor Rishi Sunak’s mini-Budget, with expectations high after lots of trailers in the media suggesting the announcement will contain blockbuster measures to boost the recovery from lockdown.

“Oil prices were slightly lower, with Brent Crude dropping 0.1% to $43.03. Gold prices continued to shine as they resumed a march towards the $1,800 per ounce mark.”

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