More concern about the UK housing market (see below). Earlier, dollar weakness – the dollar spot price was down -0.51% late afternoon at 92.60 – saw more support for gold: gold prices are now at their highest level for a month. At 5pm the yellow metal was selling at $1,294, up +0.52%.
Asian shares remain largely ahead thanks in part to commodity-driven economy sentiment and demand for certain assets like copper (copper looks set to end 2017 up +30% higher). Some of the uptick is being driven by electric car development, plus more demand from China.
Bitcoin, currently trading at $14,357, got another push down earlier following South Korea’s decision to bring forward new measures to regulate crypto currencies.
Tonight the FTSE 100 hit an all-time high – just – at 7,622.88 helped by rises from Rio Tinto and BHP Billiton, up +1.5% and +0.9%. Morrisons supermarkets were up +1.2%. However BT Group and NMC Healthcare were down -2.5% and -2.2% respectively.
- UK FTSE 100 7,622.88 +0.03%
- DAX 13,041.21 -0.21%
- CAC 40 5,356.35 -0.23%
- Dow 24,811.75 +0.15%
- S&P 500 2,683.67 +0.04%
- Nasdaq 6,937.39 -0.03%
- Nikkei 225 22,783.98 -0.56%
- Gold 1,294.80 +0.27%
- Oil WTI 59.55 -0.13%
UK mortgage approvals hit bottom in November
Payment services player UK Finance announced earlier that British mortgage approvals hit a one-year low in November. Just 39,507 mortgages got the green light. That figure is the lowest since mid 2016, claims UK Finance.