FTSE 100 to open slightly lower as uncertainty persists

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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%

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