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Week ahead

FTSE 100 closes above 7,000 in cautious market

London Stock ExchangeClose: Britain’s FTSE 100 index opened above 7,000 for the first time since November and closed 13.9 points higher at 7,034.13 in a cautious session.

US stocks were treading water in early trad as a tech boost was offset by declines in energy companies.

Global equity markets performed strongly last week after the Federal Reserve pledged to be patient with further interest rate hikes, signaling a potential end to its tightening cycle.

Friday’s robust economic data triggered a sharp rebound in US treasury yields, in turn lifting the dollar.

Asia stocks hovered near four-month highs on Monday.

Coming up

Wed: RBS will hold a general meeting of shareholders at Gogarburn to seek permission to make off-market purchases of shares from the Treasury. The move is regarded as a stepping stone to returning the bank fully to private ownership.

Thur: The Bank of England ‘s monetary policy committee holds its monthly interest rate meeting and is expected to keep it on hold. It will also publish its inflation report.


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