More losses for gold and silver have acted as a drag on the FTSE 100, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.
Miners weigh on FTSE 100
It’s another mixed day for the FTSE thanks to the mining sector. Gold and silver keep on weakening, casting a long shadow over Endeavour Mining and Fresnillo, and leaving the index without the momentum to push on towards 11,000. It hasn’t been a very exciting start to the week on the continent either, with the equity rally looking distinctly tired and unable to muster up much enthusiasm even as the US and Iran look to resume talks.
Dow regains 52K but tech struggles
The shortened week in the US gets underway with more wobbles for technology stocks. Despite Amazon’s solid 5% start the rest of the sector failed to hold initial gains, but at least the Dow has recouped the 52,000 level in early trading. The bias lies to the upside over the next few sessions, helped by the fact that president Trump seems keen to avoid any further hostilities with Iran ahead of the 4th July holiday.
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