FTSE 100 puts in a Sterling performance
|The FTSE 100’s strong start to the year has continued today, and while still under pressure, the pound has at least managed to recoup some losses, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
FTSE 100 touches three-week high
The turmoil in gilts and sterling has understandably caught everyone’s attention, but the FTSE 100 has managed another strong day today. Sterling weakness has proven to be a boon once again, and the international nature of many of the index’s members mean there is little read-across from the doom-laden trading in UK-focused assets. Leading the charge has been the mining sector, occupying four of the five top riser slots today thanks to a global rebound in commodity prices.
Sterling trims losses against Dollar and Euro
The pound has got off to a miserable start in 2025, but as the crescendo of gloom-laden news reaches a peak we have seen some tentative buying of the pound. Markets look to be assuming some kind of fresh fiscal consolidation will be needed to help restore the UK’s position. Comparisons with 2022 are overblown, but are unlikely to disappear in the short-term.
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