Well, it seems there is a little calm within the markets allowing us investors to take a breath. The FTSE100 climbed a little higher (0.07%) to close at 6,964.11 points at the close yesterday. It was one of the most volatile days since the start of the pandemic with the FTSE100 initially dipping around 3% shortly after the market open before paring back some of the losses.
A sharp rise in energy prices had us sweating as to whether the US and European countries would impose an embargo on Russian oil to ramp up sanctions and so it was a fairly quiet day across Europe as a result. In France the CAC40 fell 0.32% and in Germany the DAX edged down 0.02%
CromwellFX, our fully focussed Forex entity, noted the pound gaining strength against the dollar (GBP/USD), strengthening as much as 0.2% to buy $1.3128 in a sign that investors risk appetite is returning as they poured into the dollar and other safe assets to limit exposure to the economic fallout of the Russia-Ukraine war.
Russian gold miner Polymetal International slipped further away yesterday, ending the day as the worst stock on the FTSE100 with a loss of more than 46%. Across the pond the US Markets opened noteably higher.