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FTSE 100 slips back as gold miners slide but Tesco jumps after update

Discussion in 'Market News' started by Lily, Oct 5, 2016.

  1. Lily

    Lily Forum Member

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    Weakness in gold price leaves Fresnillo and Randgold languishing

    Leading shares are edging lower after failing to hit a new peak at the last gasp on Tuesday.

    A drop in precious metal miners as the market closed has continued in the latest trading session. The companies came under pressure as gold dropped sharply along with a rising dollar, and although the metal has regained some ground, miners are among the main fallers in the index.

    European equity markets are on the back foot as concerns grow that central banks are going to pare back accommodative policy - with the ECB potentially tapering bond purchases and previously dovish Fed members ramping up expectations of an interest rate rise this year. Both equity and bond market valuations have been founded on monetary support from global central banks and have arguably become hooked on quantitative easing and low interest rates. The possibility of central banks returning to a more normal regime could see taper tantrums resume, volatility spike and investors flee.

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