FTSE 100 remains resilient as energy exposure provides support
The FTSE 100 holds near 10,712 as investors favour energy exposure, while mixed mortgage and consumer credit data do little to dent its September resilience.
Chief Market Analyst
The FTSE 100 is trading at around 10,712 points on Tuesday. Investors currently see the FTSE 100 as an attractive way to gain some protection from inflation concerns while benefiting from rising energy prices.
The latest data on mortgages and consumer credit, meanwhile, received a mixed response. Consumer lending came in above expectations, while mortgage approvals declined. At the same time, mortgage lending volumes exceeded market expectations.
So far, the FTSE 100 has held up remarkably well during September, largely weathering the seasonal turbulence that has affected other parts of the equity market.
FTSE 100 battles with the 10,700 mark as investors remain cautious
The FTSE 100 remains cautious around 10,700 as commodity exposure and Middle East risks are weighed against government support for UK housing and construction.
