Early weakness for the FTSE 100 has been clawed back despite losses for BP and Shell, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
FTSE 100 makes headway despite ex-dividend stocks
A weak start for the FTSE 100 has given way to another push above 8600 as the close looms, with the index shrugging off the impact of a number of key names going ex-dividend. BP’s fall has been exacerbated by the drop in oil prices, which seem set for a new leg lower on hopes that a lasting period of détente between Iran and the US is in store, and rumoured suitor Shell has come under pressure too. Iran’s return to the fold of oil production is likely to see yet more supply to come online, complicating OPEC’s task even further.
US shoppers keep spending
While investors remain alert for any sign of weakness in US data, today’s retail sales and Walmart earnings have yet to show indicators of a…
