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FTSE 100 Watch: Trump dampens market hopes

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Currently standing at 7586.93, down 4.33 (BST 11.11), the FTSE is still showing an improvement on last week’s trading but will no doubt have been hit by the reported comments on the US Federal Reserve’s interest policy, with the dollar also suffering against most major currencies, including the pound.

Trump negotiating powerfully

According to Reuters, Trump said: “We're negotiating very powerfully and strongly with other nations. We're going to win. But during this period of time I should be given some help by the Fed. The other countries are accommodated.”

Global response to Trump trade turbulence

Asian Markets have also been more subdued in the wake of Donald Trump’s commentary, although the Chinese market has still made ground, with the Australian ASX200 and the Japanese Topix both negative movers. The likelihood is, according to IG, that any comments from the president will continue to have an impact on the markets given that there aren’t too many other major stories currently in the pipeline.

Positive outlook for economy?

In other news, according to Proactive Investors, Britain has recorded its biggest budget surplus for 18 years last month. It is suggested that this has been driven by strong income tax receipts, according to the latest figures from the Office for National Statistics. Combined with a reported 3.5% growth in grocery sales over the last quarter, it is fair to say that this news will be somewhat welcomed by the government and the markets.

Persimmon Homes (LON:PRS) have recorded increased profits in their six-month report and Polymetals (LON:POLY) reported a rise of  US$305million, up 19% on the same period a year ago, while revenues climbed 16% to US$789ml, with strong gold production compensating for a small decline in silver output. BHP Billiton will pay record dividends despite a decrease in net profit, due to one-off costs.  

 

 

 

 

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