FTSE 100 Slips as Gold Retreats From Record Highs; Global Markets Mixed
The FTSE 100 edged lower in early trading on Friday, slipping 0.1% to 9,496.93 as gold prices retreated below the $4,000 per ounce mark after setting fresh records earlier in the week.
Across Europe, markets opened flat with the STOXX 600 steady at 571.2 points, heading for a third consecutive weekly gain. Investors are watching developments in France as President Emmanuel Macron is expected to name a new prime minister soon.
In Asia, markets were mostly weaker. Japan’s Nikkei 225 fell 1% to 48,088.80 after stronger-than-expected producer price data, while Hong Kong’s Hang Seng dropped 1.8% to 26,277.84 and the Shanghai Composite eased 1% to 3,894.56. Australia’s S&P/ASX 200 edged down 0.1% to 8,958.30, and Taiwan’s market remained closed for a holiday.
However, South Korea’s Kospi outperformed, surging 1.7% to 3,610.60 as trading resumed after a break. The rally was driven by tech stocks, with SK Hynix jumping 8.1% and Samsung Electronics rising 6.2%, buoyed by news that Nvidia-backed Reflection AI raised $2 billion (£1.1 billion), lifting its valuation to $8 billion. India’s BSE Sensex also gained 0.4%.
On Wall Street, stocks paused after a record-breaking run. The S&P 500 slipped 0.3% to 6,735.11, the Dow Jones Industrial Average lost 0.5% to 46,358.42, and the Nasdaq Composite dipped 0.1% to 23,024.63.
In the bond market, the yield on 10-year US Treasuries rose slightly to 4.150%, up from 4.123% the previous session.
