commods lead ftse higher

  1. 54,521 Posts.
    lightbulb Created with Sketch. 149
    Last week was a roller-coaster one for the index, which saw it swing through a range of more than 500 points as investors grappled with growing uncertainty over the global economy and policymakers' attempts to restore some sense of calm.

    After these gyrations, the index ended the week not that far from where it had started - up 1.39 percent.

    Traders anticipated further market uncertainty surrounding an attempt by French President Nicolas Sarkozy to address the euro zone debt crisis by convincing German Chancellor Angela Merkel to accept euro zone bonds at a meeting in Paris on Tuesday.

    "The FTSE 100 is looking good today, as are other European markets on the back of hope that Merkel and Sarkozy, in their planned meeting tomorrow, will agree to issue euro bonds which would solve most of the euro zone short-term issues," said Lex van Dam, hedge fund manager at Hampstead Capital, which has about $500 million of assets under management.

    "I personally think that's pretty unlikely to happen but if it did this would really be massively bullish."

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.