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Forecast For FTSE 100 Index – October 9th, 2019

Michael Harris
  • October 9th 2019, 07:20
  • Last Updated: October 17th 2019, 12:41

Following the blacklisting of another 28 Chinese firms by the United States of America, the optimism regarding the U.S – China trade talks is quickly fading away. Investors from around the world are being cautious of trading in such of storm of uncertainty.

FTSE 100 Index Roundup

FTSE 100 index was reported to have fallen by 55 points on Tuesday, October 8th, 2019. The market closed at 7,143. According to the forecast by Spread-Better IG, Footsie is expected to open slightly lower (1 point) on Wednesday.

Senior market analyst, Ms. Ipek Ozkardeskaya of London Capital Group has stated that if the trade negotiations continue to head in the wrong directions, the implications on the global financial markets could be dire.

The deadline for Brexit is right around the corner as well and so far a prospect of a deal between the UK and the EU has not been brought any closer to reality. With negotiations almost collapsing, last night, such is another macro factor that is expected to keep the FTSE 100 index under pressure.

Under current circumstances, the forecast for today’s market is two-fold. Analysts believe that either it is going to stay flat for the most part owing to the investors’ reluctance in being active during uncertainty, or a higher than usual volatility may be experienced in light of the other macroeconomic events lined for today such as the FOMC meeting minutes in which Mr. Powell, the chairman of FED, is expected to give a clue about the possibility of further leniency in policy by the end of the month. Other macroeconomic events to watch include the Eurogroup meetings, and crude oil inventories report for the U.S.

Important Announcements To Look For

In the individual business level news, Volution Group PLC is expected to announce its final financial statement on Wednesday, October 9th, 2019. The statement can be predicted to have an impact as a market mover for LON:FAN stock. The interim financial statement by Vertu Motors to be released later today may not cause a major move in the stock, but will surely come in handy in directing a strong strategy for the interested traders in the weeks to come. Among the other significant announcements expected on Wednesday, GVC Holdings PLC trading statement and Annual General Meeting (AGM) for Fulcrum Utility Services and FastFoward Innovations take the lead. Investors are recommended to keep a close eye on the release of such data on October 9th, 2019.

About the author

Michael Harris
Michael Harris
I began trading in my early 20's at a local company and since then have combined my knowledge and love of content to become a news writer. I am passionate about bringing insightful articles to readers and hope to add some value to your portfolios!

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