FTSE 100 to open slightly lower as uncertainty persists
The FTSE 100 is expected to open marginally lower on Wednesday as investors continued to tread cautiously amid macroeconomic jitters.
Spread- betters IG expect the blue-chip index to open around 9 points lower after ending Tuesday’s session up 18 points at 7,095.
Predictions of a sedate start followed a mixed performance for Wall Street overnight, with the Dow Jones Industrial Average closing down 0.09% at 34,599 while the S&P 500 rose 0.02% to 4,227 and the Nasdaq was up 0.31% at 13,924.
The picture became bleaker in Asia this morning, with Japan’s Nikkei 225 down 0.33% while Hong Kong’s Hang Seng fell 0.16%.
Uncertainty about the prospect of inflation around the world is unlikely to have been helped by a jump in Chinese inflationary figures for May, while a lack of any other major news is unlikely to help shift sentiment away from neutral.
On currency markets, the pound was relatively flat against the dollar at US$1.415, with little in the way of major news to move the needle.
Around the markets:
Sterling: US$1.415, no change
Brent crude: US$72.59 a barrel, up 0.5%
Gold: US$1,894 an ounce, up 0.02%
Bitcoin: US$33,558, up 2%