Lower US factory-gate inflation has helped to maintain the broadly-positive mood in markets, with Wall Street boosted by tech stocks once again, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
FTSE 100 little-changed
“After the rebound of last week the FTSE 100 looks a little-becalmed. A lack of any major news updates has drained some momentum from the index, but it has shrugged off the early August volatility remarkably well. Once more it seems the UK’s relative cheapness has brought global investors flocking back.”
Tech stocks lead early rally on Wall Street
“It feels like ‘back to normal’ for markets as tech stocks lead the way higher again following the lower US PPI data. The reading has given heart to beleaguered investors, who remain skittish after last week’s volatility. Setting aside the carnage in the yen and the Nikkei, last week feels very much like a normal pullback in an otherwise strong year, and recession fears, like expectations of a more dramatic cut in rates, have been dialled back over the past few sessions.”
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