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FTSE set to open lower

FTSE

According to financial websites, the FTSE 100 is expected to open lower as the pound plunged to a 31-year low after the BoE’s latest warning.

US and Asian markets reacted negatively to yesterday’s financial stability update from the UK’s central bank, with the Nikkei react particularly affected by the knock on impact to bond yields.

In the US overnight, the Dow lost 108.75 points to close at 17,840.62, the S&P 500 fell 14.4 points to 2,088.55 and the Nasdaq dropped 39.67 points lower to 4,822.9.

In Asia today, the Nikkei was recently down 386.61 points at 15,282.72 and the Hang Seng had lost 362.21 points at 20,388.51.

In commodities, crude oil was down and gold was up. WTI recently traded at $46.49 (£35.82) a barrel, Brent at $47.85 (£36.88) a barrel and gold was $1,370.5 (£1,057.02) an ounce.

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Paul

The author Paul