FTSE100 eyes new record; Nvidia continues slide; Govt mulls 4-day work week - Market Report

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The FTSE enjoyed a bright start on Friday, gaining 31 points to reach 8,411. This took the index ever closer to its record high seen in May of 8,447 in intraday trading and an 8,445 close. The move up came despite little company news and another tough night for Nvidia. Traditional safe stocks such as utilities and property groups were going well in early trades, particularly Land Securities and power group SSE. Nvidia shed almost US$200 billion of its value overnight after investors digested its results; this had a knock-on effect UK investor Scottish Mortgage Investment Trust, which was one of the FTSE 100’s few early losers. Elsewhere, house prices climbed by 2.4% in the year to August and at their fastest pace since December 2022, according to figures from building society Nationwide. A lot of business headlines also focused on Government plans to make a four-day work week a right for staff with no loss of pay. Businesses are said to be unhappy about the proposals that would see people work extra hours each day to make up the time. #ProactiveInvestors #marketreport #ftse #footsie #ftse100 #landsecurities #sse #nvidia #natioinwide #4dayworkweek #4days #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews