Banks boost FTSE 100
|A strong showing from UK banks has helped the FTSE 100 to rise says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
FTSE 100 bolstered by bank rally
After a miserable end to last week, the FTSE 100 has managed to rediscover some momentum, rallying 1% thanks to a strong showing from the UK banking sector. The UK government’s sale of more of its stake is another vote of confidence in NatWest, another step in the long road away from 2008’s emergency government takeover. Meanwhile the banking sector’s day was further improved by Barclays, which is still basking in the glow of Trump’s win.
US markets still strong
Friday witnessed the Dow and S&P 500 hit new highs and reach new big round numbers, but the gains have continued today. The prospect of a Republican clean sweep continues to energise investors, and with earnings growth still healthy, investors are also looking forward to a fresh burst of M&A and IPOs that will provide fresh flows to US markets. The Trump train rumbles on.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.