FTSE 100 Set to Open A Tad Lower as Global Trade Remains Volatile

2 min read | April 13, 2021 05:12 PM AEST | By Abhijeet

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FTSE 100 Set to Open A Tad Lower as Global Trade Remains Volatile

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Summary

FTSE 100 is expected to start marginally lower on Tuesday

Wall Street ended lacklustre on Monday, with all three indices closing in red

Barring China, all major Asian markets traded in green

The benchmark FTSE 100 is expected to start marginally lower on Tuesday, 13 April, tracking the downbeat trading sentiments across the globe with a lower Wall Street closing and mixed-bag session in major Asian markets.

Nikkei 225 of Japan staged a substantial recovery during the day, bouncing back from Monday’s trough but failed to sustain the morning gains, while India’s Nifty 50 traded little changed in green after recognising a 3.5 per cent drop on Monday.

Wall Street ended lacklustre on Monday with the Dow Industrials finishing at 33,745.40, down 0.16 per cent, the tech indicator Nasdaq Composite closed at 13,850, down 0.36 per cent and the wider share barometer S&P 500 concluding 0.20 per cent lower at 4,127.99.

Other than China, all the major Asian markets traded in the positive region with gains capped to less than 1 per cent. Japan’s Nikkei 225 surged 0.72 per cent to 29,751.61, Hong Kong’s Hang Seng gained 0.49 per cent, Kospi of South Korea soared 0.87 per cent to 3,163.01, Nifty 50 of India managed to float 0.21 per cent higher at 14,340.35, while Shanghai Composite of China slipped 0.61 per cent to 3,394.54.

Meanwhile, Australia’s headline stock indicator ASX 200 ended slightly higher at 6,976.90, up 0.04 per cent from the previous close of 6,974. The futures linked to the FTSE 100 traded 0.24 per cent lower in the early morning deals, indicating a negative start to the London equities.

The market sentiments have seemingly injured after the Office for National Statistics data showed that the UK trade deficit has effectively doubled to £7.1 billion in February 2021 from £3.4 billion in the previous month of the present calendar year. However, the gross domestic product (GDP) staged a marginal rebound in February with 0.4 per cent growth.

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