FTSE 100 closes in the red, Wall Street fares no better

• FTSE 100 dips 47 points
• Wall Street follows world markets lower
• Ocado the weakest blue-chip

5.15pm: Both sides of the Atlantic struggling

The FTSE 100 ended Tuesday down 47 points, 0.7%, at 6,923, despite a promising start to the day. The FTSE 250 lost 167 points, 0.7%, to 22,330.

Markets have been rocked by a wave of volatility on an otherwise inconspicuous day, with sharp declines in the DAX and Treasury yields, and cryptos giving way to dollar and gold gains,” IG Senior Market Analyst Joshua Mahony wrote. ” …Airlines have received a welcome lift as Europe moves closer to resuming non-essential travel, with the UK government expected to spell out exactly what countries fall into each category of the traffic light system. Nonetheless, the resumption of flights does bring its risks, with more infectious and evasive variants from around the world likely to grow in numbers once travel restarts.”

To that end, easyJet plc () shares improved 0.3% to 1,039.50p.

In the US, the Dow was down 157 points, 0.5%, to 33,956 at midday. The Nasdaq slid 342 points, 2.5%, to 13,552, and the S&P 500 gave back 48 points, 1.1%, to 4,145.

4.03pm: Midday dip dooms chance of winning day

Having spent the morning steadily accumulating gains, the Footsie lost them in an instant over lunchtime trading and is now in the red.

London’s index of blue-chip shares was down 16 points (0.2%) at 6,954, with groceries delivery technology specialist () leading the retreat with a 4.3% fall at 2,006p.

In the banking sector, () was upgraded by Investec to ‘buy’ from ‘hold’ following the lender’s recent results, although the price target remains at 200p.

Shares in Barclays currently trade at 171.4p, down 2.3% on the day.

3.10pm: Treading water

London’s index of leading share is treading water in the afternoon session, despite the strength of oil stocks and precious metals miners.

The FTSE 100 was up just 2 points (0.0%) at 6,972, led – if that’s the word – by precious metals miner (), up 4.6% at 861.8p, and (), up 3.8% at 1,552.5p.

“Silver broke out of its triangular formation yesterday to record its best one-day performance since early February when it briefly touched $30. Gold meanwhile remains rangebound as it struggles to find a bid strong enough to challenge key resistance at $1800,” said Ole Hansen, the head of commodity strategy at Saxo Bank.

“Rising growth expectations together with the prospect for government-supported infrastructure plans as well as the green transformation and reflation focus have all helped drive a strong rally across industrial and platinum group metals in 2021. Silver has been caught between two chairs with the market struggling to work out whether the impact from industrial metals should hold a bigger sway than struggling gold. The latter due to its sensitivity towards movements in rates and the dollar, both of which are up until recently,” he added.

Also breaking out of a triangular formation, or maybe it was just looking at the story through the round window, were travel-related stocks.

(), easyJet PLC () and British Airways owner SA () were on the rise on Tuesday as the UK prepares to announce which countries have made it on the ‘green list’.

Weekend reports suggested it might be between ten or 12 countries, including Malta, Gibraltar, Portugal and Israel.

Spain, Greece, France, the Seychelles and have also been rumoured as potential candidates.

TUI jumped 2.2% to 440.3p while easyJet added 0.6% at 1,042p and IAG advanced 1.2% to 203.95p.

2.50pm: Proactive North America headlines:

Klondike Gold Corp () (OTCPINK:KDKGF) (FRA:LBDP) kicks off 2021 exploration program in the Yukon with drilling at the historic Virgin and Lindow areas

Green Battery Minerals Inc () (OTCMKTS:GBMIF) (FRA:BR2) hires consultant Norda Stelo for environmental gap analysis…