Omnis market update 22 May

Movements in the FTSE 100 were mostly sector driven, albeit with heightened intra-week volatility. Miners, boosted by higher metal prices due to a weak dollar, and telecoms pushed the index to record highs midweek, before handing some of the gains back as the banking and energy sectors weighed on performance. Sterling strengthened against the US dollar, as controversy surrounding Donald Trump resulted in the dollar index, which tracks the U.S. currency against six peers, falling to its lowest level since 9 November 2016 (source: Reuters).

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