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FTSE 100 set to start lower but May day promises more certainty

FTSE 100

As Theresa May prepares to move into Number 10 the markets look forward to some degree of certainty over the UK’s path towards the Brexit.

London’s FTSE 100 is set to start Wednesday lower, rather than follow the positive trading in both US and Asia.

US stock benchmarks paced to new highs during Tuesday’s trading session as calmer moods prompted bolder trading and most asset classes pushed higher. All in all, the worries have drifted into the background and buying has prevailed.

The Dow Jones gained 120 points, 0.66%, to 18,347 by the closing bell. The S&P 500 meanwhile rose around 15 points, 0.7%, to 2,152 – a record high closing marker – and the Nasdaq added 0.69% to 5,022.

Asian equities were mostly positive too. Japan’s Nikkei rose 0.9% to 16,247, while Hong Kong’s Hang Seng added 0.6% to 21,354 and the Shanghai Composite rose 0.45% to 3,062.

Australia’s ASX 200 gained 0.5% to 5,381.

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Paul

The author Paul