FTSE 100 Set to Open a Tad Lower Tracking Mixed Asian Equities 

Summary

  • The FTSE 100 is set to open slightly lower, tracking mixed Asian cues.
  • FTSE futures were trading down by 0.72 per cent on Tuesday early morning.
  • The market is awaiting cues from the unemployment rate and claimant count set to be announced later today by the Office of National Statistics

The UK’s blue-chip index FTSE 100 is set to open lower on Tuesday, tracking mixed cues from its Asian counterparts and FTSE futures. The FTSE 100 futures were trading down by 0.72 per cent at 06:32 HRS GMT+1 this morning.

The index last closed at 7,146.68, up by 12.62 points or 0.18 per cent on Monday, after a rise in oil majors helped the index offset concerns about UK’s Freedom Day delay.

(Image Source: Refinitv)

Asian stocks mixed

Asian stocks were mixed but mostly up on Tuesday after their US counterparts closed mostly higher on Monday, as investors await the US’ Federal Policy Decision due on 16 June.

Japan’s key index Nikkei 225 was trading higher by 0.99 per cent. Meanwhile, China’s SSE Composite Index was up by 0.36 per cent.

South Korea’s Kospi composite index was trading higher by 0.10 per cent, while Hong Kong’s key index Hang Seng was down by 0.75 per cent.

India’s Nifty 50 shares  were trading up by 0.46 per cent, while Australia’s ASX 200 was up by 0.99 per cent.

Also Read: FTSE 100 Traded Above 7,100 Level; Bitcoin Price Breached $40,000

US Markets

The Dow Jones US 30 futures contract was up by 0.14 per cent, the S&P US 500 futures contract was higher by 0.18 per cent, and the Nasdaq US Tech 100 futures Contract was trading up by 0.11 per cent.

The US markets closed on record highs despite choppy trading on Monday as investors gauge the economic strength and inflation concerns ahead of the Fed’s policy decision.

The Dow Jones Industrial Average index last closed down by 0.25 per cent on Monday, while the S&P 500 index ended higher by 0.018 per cent. Meanwhile, the Nasdaq Composite index closed up by 0.74 per cent, closing at a record high.

Sterling strengthens against the USD

The Great Britain pound (GBP) was trading higher against the United States dollar (USD) on Tuesday. At around 06:58 HRS GMT+1, the GBP/USD currency pair was up by 0.1248 per cent, trading at 1.4122. The pair’s last close stood at 1.4108.

Meanwhile, the GBP/EUR currency pair was trading up by 0.0679 per cent at 1.1644 at around 06:59 HRS GMT+1.

The Bank of England’s daily spot exchange rates as of 11 June for GBP/USD currency pair was at 1.4123, and for the GBP/EUR currency pair was at 1.1662.          

Also Read: FTSE 100 to open a bit higher as Asian equities remain mixed

Upcoming cues

On the domestic front, the London market is awaiting cues from the claimant count rate and the unemployment rate to be announced by the Office of National Statistics later today.

The market is also awaiting final earnings results from Anemoi International Ltd, CML Microsystems PLC, Iomart Group and others today.

On the international front, the US is set to announce a slew of economic data later today, including the producer price index, retail sales, industrial production, amongst others.

The EU is also set to announce its Balance of Trade data, while Germany is slated to report its Consumer Price Index data today.

Comment


Disclaimer