FTSE 100 Back in Positive Territory

The FTSE 100 climbed back into positive territory on Friday morning, after enduring a difficult Thursday. The market was up by 1.5 percent by the middle of the trading day, after having hovered close to 6,000 during Thursday’s session, after Mario Draghi, the ECB chief, hinted that it was unlikely that interest rates would be cut any more in the near future.

shareprices.com - Friday, March 11, 2016

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David Morrison, a senior market strategist for SpreadCo, noted that the markets response could be characterised as exuberance after the ECB over-delivered, followed by despair. At the end of yesterday’s trading, US investors jumped in on the long side, and this meant that US indices were left relatively unchanged, while the UK indices struggled.

Friday saw Aviva gain 3.9 percent after it released some promising results yesterday, while Barclays gained 3.3 percent. The only faller during the early part of the trading session as Marks and Spencer, who shed 0.5 percent.

Oil prices gained 1.8 percent overnight, which helped to boost stocks. Oil profited from the strong Yuan and fresh investment, and helped to wipe the slate clean as far as equities went. With oil and mining stocks looking healthy, the FTSE 100 was in a good position for growth. Whether that growth will be sustainable depends on the health of the rest of the market. The banking sector, however, is still looking strong following on from the news of cheap borrowing offered by the European Central Bank during its announcement yesterday.


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