FTSE 100 Slides as European Shares Footstep Asian Equity Rout

March 04, 2021 09:37 PM AEDT | By Abhijeet

FTSE 100 Slides as European Shares Footstep Asian Equity Rout

Asian markets plunge

Most of the Asian equity markets concluded or traded in the negative territory, at a time when the London equities started the day. Japan’s Nikkei 225 shed 2.13 per cent, China’s Shanghai Composite dropped 2.05 per cent, Hong Kong’s Hang Seng slipped 2.15 per cent, South Korea’s Kospi ended the day with a fall of 1.28 per cent, India’s Nifty 50 traded 0.78 per cent lower, while Australia’s ASX 200 fell 0.84 per cent at the close.

Europe under pressure

Notably, most of the European equities followed suit with Germany’s DAX falling 0.36 per cent, France’s CAC 40 falling 0.12 per cent, Italy’s FTSE MIB losing 0.33 per cent, while Spain’s IBEX 35 tripped marginally by 0.03 per cent.

According to the latest data available with the London Stock Exchange, the FTSE 100 was trading at 6,612.12 (0925 GMT), down 0.95 per cent from the previous close of 6,675.47. Losses in London were mostly higher due to a partial dejection amidst the investors with regard to the rising budget deficit.

FTSE 100 (4 March)

(Source: Refiniv, Thomson Reuters)

The index made an intraday low at 6,596.24, the broader share index FTSE 250 dropped 0.41 per cent, while FTSE 350 and FTSE All-Share dipped in a similar fashion like FTSE 100. The futures linked to the Dow Industrials fell 0.25 per cent, indicating a negative start to Wall Street, which also battered the sentiments.

On the domestic front, the focus of investors has seemingly shifted to the upcoming macro indicators as the Office for National Statistics (ONS) is set to come with the balance of trade figures, alongside the metrics for manufacturing, industrials production and construction output for the month of January on Friday, 5 March.

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