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Source: Copyright © 2021 Kalkine Media Pty Ltd.
Summary
- FTSE 100 dropped nearly 1 per cent on Monday as global markets turned volatile.
- London investors also awaited the macro data releases scheduled for the week.
- During the day so far, the index has plunged 0.90 per cent to 6,853.75.
The leading stock index of the UK, FTSE 100, dropped nearly 1 per cent in the morning trades on Monday, 12 April, the day when England will start its reopening phase as per the guidance of the second stage. The domestic optimism seemed to have faded partially as the mood of investors was battered by the rising rate of infection across many nations globally.
A part of uncertainty was lying ahead of the major macroeconomic releases scheduled ahead for the week. In the present week, London equities are set to witness the aftereffects of macro indicators including the balance of trade, construction output, industrial production, manufacturing production, labour productivity, and the GDP growth rate for February 2021.
London equities defy England’s reopen
According to the latest data available with the London Stock Exchange, FTSE 100 was trading marginally changed at 6,888.58, down 0.39 per cent from the previous close of 6,915.75. During the day so far, the index plunged close to 0.90 per cent to an intraday bottom of 6,853.75, recoiling further in downward direction from its 52-week highs.
The broader share indices followed suit with FTSE 350 and FTSE All Share oscillating 0.32 per cent lower from their respective previous marks, while the mid-cap indicator FTSE 250 traded 0.24 per cent down.
European markets lacklustre
A mixed-bag trading activity was witnessed in the major European markets with Italy’s FTSE MIB leading the charge and Spain’s IBEX 35 emerging as the biggest laggards amidst the five-nation pack.
DAX in Germany and CAC 40 in France traded slightly higher in green with gains capped to 0.1 per cent, whereas Switzerland’s Swiss Market Index shed 0.30 per cent. FTSE MIB of Italy gained 0.32 per cent and IBEX 35 of Spain fell 0.40 per cent after staging a partial recovery from the intraday lows.
India dents Asian markets
All major Asian markets concluded in the negative region barring South Korea’s Kospi. Nikkei 225 of Japan ended 0.77 per cent lower at 29,538.73, China’s Shanghai Composite and Hong Kong’s Hang Seng dropped between 0.80 and 1.10 per cent, Australia’s ASX 200 terminated 0.30 per cent down, while Kospi of South Korea managed to finish with an uptick of 0.12 per cent.
Meanwhile, Indian stock markets encountered a major sell-off after the nation recognised a serious wave of Covid infections affecting almost all the states with Maharashtra leading the toll of cases.
Notably, India reported more than 160,000 cases on Monday that placed it as the second most-affected Covid-19 nation in the world, superseding Brazil. Following the widespread outcry, Nifty 50 of India collapsed approximately 4 per cent to at least a two-week low of 14,248.70.
