Markets: FTSE 100 up slightly after a quiet day’s trading

• FTSE 100 up 0.2% to 6,627

• Gold up 1.12% to $1,164.29/oz

• £/$ – 1.5919

The FTSE 100 edged higher yesterday ahead of today’s quarterly inflation report from the Bank of England. The index climbed 0.2% to close at 6,627.

Sainsbury’s was the day’s top performer, clawing back Monday’s losses with a 5.7% rise. Morrisons was also in demand, climbing 2%.

In European markets, the Paris CAC 40 rose 22 points to 4,244, and the German Xetra Dax added 18 points to 9,369.

In the US, the Dow Jones Industrial Average rose one point to 17,614, the S&P 500 was 0.1% higher at 2,039, and the Nasdaq Composite gained 0.2% to 4,660.

Overnight in Japan, the Nikkei 225 added 0.4% to 17,197, and the broader Topix rose 0.1% to 1,377. And in China, the Shanghai Composite gained 1% to 2,494, and the CSI 300 was 1.4% higher at 2,594.

Brent spot was trading at $81.01 early today, and in New York, crude oil was at $77.32. Spot gold was trading at $1,165 an ounce, silver was at $15.68 and platinum was at $1,204.

In the forex markets this morning, sterling was trading against the US dollar at 1.5925 and against the euro at 1.2774. The dollar was trading at 0.8021 against the euro and 115.33 against the Japanese yen.

And in the UK, Burberry reported a fall in half-yearly profits. Pre-tax profits for the six months to 30 September fell to £141.8m, down from £159m for the same period last year. Revenue rose to £1.1bn, up from £1bn.

• David Stevenson, former MoneyWeek writer and director of The Fleet Street Letter, believes silver could be about to start a record climb.  Click here (capital at risk) to read about the three irresistible forces David believes could push the price of silver through the roof.

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