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Investment Trust Insider
Investment Trust Insider
Uk Equities 09 Sep, 2024

FTSE jumps as oil price climbs and Europe rallies on rate cut

The FTSE 100 regains ground as a rise in the oil price supports miners, while investors expect the European Central Bank to cut interest rates later this week.

The FTSE 100 rebounded as the oil price strengthened, while European indices rallied in anticipation of further interest rate cuts at the bloc’s central bank meeting on Wednesday. 

London’s blue-chip index rose 0.6%, or 44 points, to 8,226, as Brent crude jumped 1.1% to $71.9 to recover some of last week’s 8% fall, supporting mining and energy companies. 

Hargreaves Lansdown’s head of markets Susannah Streeter noted that  investors appeared to be shaking off worries of a deeper global economic slowdown after Friday’s US mixed jobs report failed to nix recession fears.

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