"A mixed start for European markets has seen the FTSE 100 enjoy a positive session thus far, with financial names such as HSBC, NatWest, Prudential, and Barclays on the rise alongside defence names Rolls-Royce and BAE Systems. Notably the major drag comes from the commodity sector, with miners Fresnillo, Anglo American, and Antofagasta leading the way lower after yesterday's surge higher for the gold, silver, palladium, and copper met a sharp reversal."
"The Nasdaq looks set to open in the green, with traders waking up to the prospect of a fresh post-earnings surge for Mag7 stocks. Coming at a time where the gains seen in the US stock market have been primarily driven by the remaining 493, the Mag7 market cap shares of the S&P 500 has dropped from 33% to 31% over the past two-months."
European markets opened mixed with the FTSE 100 rising on strength in financials (HSBC, NatWest, Prudential, Barclays) and defence stocks (Rolls-Royce, BAE Systems). Commodity stocks led declines as miners Fresnillo, Anglo American, and Antofagasta fell following a sharp reversal in gold, silver, palladium, and copper. Silver recorded a 14% intraday rise that reversed to form the largest daily trading range on record and then gained 8% the next morning, easing fears of a precious-metals top. The Nasdaq may open higher on hopes of post-earnings gains for Mag7 names while the dollar has weakened to a four-month low.
Read at London Business News | Londonlovesbusiness.com
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