Following yesterday’s announcement that Brexit deal has been finalized in the European Union Summit (EU summit), the celebration in the FTSE 100 index was quite evident. The market made a daily high of 7,237.78. While significant gains were still lost towards the end of the day with DUP of Northern Ireland making a statement that it plans on voting against the deal in the UK’s parliament, the index still managed to closed 14.37 points higher at 7,182.32.
Footsie’s Performance On Friday So Far
Friday, October 18th, 2019, however, appears to be a whole another story for the FTSE 100 index. The market opened at 7,182.32 level this morning with a downward rally that immediately dropped it to around 7,150. Almost two hours into the trading session and the index has so far failed to make a high above the opening level for Friday. Footsie is currently trading at 7,174.76.
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Chinese data released earlier today, that represented the slowest growth in economy since more than the past 30 years is linked to the current decline in the FTSE 100 index, as per the financial analysts. The data kept the Footsie listed miners such as Evraz and Antofagasta under pressure with both of the corporations reported to have been trading 2.3% and 1.3% down respectively.
Business-Level News To Look For
In the business-level news, International Hotel Group has released the Q3 trading statement earlier this morning. Having missed the previously set target, the share price for the group fell by 2.4%. On the other hand, the trading statement for London Stock Exchange Group was revealed to be better than expected that has pushed the share 1.4% higher.
Amidst the Brexit optimism, the FTSE 100 listed builders were highlighted to have received considerable gains. Barratt Developments is currently trading around 1.5% higher while 1% gain was reported for Berkeley.
England based veterinary products manufacturer, Dechra Pharmaceuticals and a world-known internet security applications provider, Avast, are among the other businesses that are expected to release the trading statements later today.
Grant Thornton International, one of the leading liquidators is in pursuit of litigation funding in an attempt to recover its investment of 500 million Pounds in Euro Forex. The UK based company was previously labeled as a pyramid scheme by the Chinese police.
The EU economic summit is set to continue today while the current Governor of the Bank of England, Mr. Carney will be delivering a speech at 18:45 GMT +1 today. Both the events are expected to be of interest for the investors, according to the financial experts.