Quote from Nick on 3rd November 2023, 10:42 am

 

Technical analysis for FTSE 100 for 3rd November 2023

Rate-sensitive homebuilders and real estate stocks lifted the FTSE 100 into the green as the Bank of England kept interest rates unchanged. The exporter-focused FTSE 100 climbed 1.42pc to 7,446.53. Meanwhile, the midcap FTSE 250 index jumped 3.38pc to 17,767.30. The benchmark FTSE 100 logged its best day in over three weeks, while the mid-cap index marked its best session since July.

Stocks and currencies in Asia gained along with a weakness in the dollar, as traders embraced riskier assets on prospects the Federal Reserve’s tightening cycle is nearing an end.  Equity benchmarks in Hong Kong rallied more than 2% while shares in Australia and South Korea climbed about 1%. The MSCI’s Asia benchmark was on track for its best week in two months. Markets in Japan are closed for a holiday. US equity futures slipped following underwhelming results from Apple Inc.

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