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FTSE moves higher despite Wall Street's losses; miners jump on gold's new high - Market Report

FTSE moves higher despite Wall Street's losses; miners jump on gold's new high - Market Report

The FTSE 100 is struggling for direction this morning following a broad sell-off on Wall Street overnight on rising concerns over the independence of the Federal Reserve as President Trump became increasingly critical of Fed Chair Jerome Powell.

An hour into trading, the blue-chip index was 8 points, or about a tenth of a percent higher, at 8,284.

The usual suspects are seen among the main fallers, including US-focused and tech investors such as Pershing Square, Polar Capital Technology Trust, Scottish Mortgage and Investment Trust.

But gold miners, including Endeavour Mining and Fresnillo are up sharply as the price of gold jumped to almost $3,500 an ounce, taking gains in the past six weeks to $500.

Sainsbury's, which kicked off its share buyback today, is also higher this morning.

But AstraZeneca has edged lower despite announcing some successful drug trial results.

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