"Mainland European markets are edging higher once again, with the FTSE 100 taking a breather, following on from a US session that saw a fight back for big tech amid cooling demand for the more defensive sectors such as healthcare and consumer staples. Coming off the back of the recent commodity volatility, the recovery for the likes of gold, silver, copper, and aluminium appear to be losing momentum, driving FTSE 100 miners lower."
"Yesterday's US session saw a notable resurgence for the tech space, with the Nasdaq managing to push back above 25,000 as it attempts to regain the losses seen last week. Concerns around the software sector remain prevalent, with Salesforce and ServiceNow remaining in the doldrums after recent declines. However, we have seen dip buyers enter the fray, with the Mag7 names gaining ground alongside the likes of Palantir, Broadcom, AMD and alike."
Mainland European markets are edging higher while the FTSE 100 pauses after a US session that saw big tech rebound as demand cools for defensive sectors like healthcare and consumer staples. Commodity recoveries for gold, silver, copper, and aluminium are losing momentum, pressuring FTSE 100 miners. BP suspended its share buyback as weak oil prices reduced profits, weighing on the index. The pound's decline reflects a dovish Bank of England outlook and political instability tied to Kier Starmer and Peter Mandelson. The Nasdaq has rallied above 25,000 with Mag7 and other tech names attracting dip buyers amid AI-driven CapEx uncertainty. Software, digital and professional services firms face the prospect of demand and margin disruption unless they embrace AI. Major economic data are due tomorrow.
Read at London Business News | Londonlovesbusiness.com
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