FTSE 100 Preview: Index to open on a loss amid renewed trade woes

Surge in GBP value following positive Brexit comments continue to impact the FTSE index.

FTSE 100 Preview: Index to open on a loss amid renewed trade woes

Opening calls indicate that trading will open with the markets in the red as gains struggle to offset strong GBP. IG opening calls see the market open on 7494 -0.30%. 

Market losses are felt globally

Globally, markets were all operating on a loss as currency issues and renewed trade fears impact on investor confidence.

The DOW closed at 25986.92, a loss of 0.53% (-137.65), Hong Kong HSI closed on a loss of 0.89% at 28164.05 (-252.39) and Euro Stoxx 50 fell 0.73% closing on 3,430.99 (-25.14).

Renewed trade fears as Trump threatens to leave World Trade organisation

In an interview with Bloomberg President Trump added further instability to the already uncertain future of world trade when he expressed dissatisfaction with the current progress stating: “if they don’t shape up, I would withdraw from the WTO”. The news will most certainly have an impact on the FTSE index value, which is already floundering due to ongoing currency fluctuations. 

Today’s calendar

No major FTSE 100 news scheduled for today, though Royal Mail (LON:RMG) will make their final dividend payments of 16.3p a share.  GFK will also be issuing an updated consumer confidence report which could impact on the performance of Ocado (amongst other retailers) (LON:OCDO) who were yesterday’s biggest risers, closing on 1080.50, +18.00 (+1.69%)

 

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