FTSE 100 was little changed as global markets advance

The FTSE 100 was little changed to 10,651.77, trading lower as London investors weighed the latest moves across global markets. Figures are as of 6 July at 20:37.

How the major markets moved

On Wall Street, the S&P 500 rose 0.72% to 7,537.43, the Dow Jones rose 1.44% to 53,055.91 and the Nasdaq Composite rose 0.31% to 26,121.16. The direction on Wall Street typically sets the tone for how London portfolios open the following session.

Commodities and the safe-haven trade

Gold rose 1.18% to US$4,174.5 an ounce, a level worth watching for anyone holding the metal as a hedge. Oil, as measured by WTI crude, was little changed to US$68.68 a barrel, a move that feeds through to petrol prices and input costs for local businesses.

The currency angle

GBP/USD rose 0.38% to 1.34. A stronger or weaker local currency changes the maths for London importers, travellers and anyone with offshore investments, and shifts the value of overseas earnings for locally listed companies.

What it means locally

For London readers, the day’s moves flow straight through to superannuation and retirement balances, which are heavily exposed to both local and global equities. Days like this are a reminder that a diversified portfolio rides out single-session swings better than a concentrated one.