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FTSE set to start lower on Tuesday

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FTSE 100 is poised to start lower on Tuesday after closing yesterday 26 points higher at 6,685.

Spreadbetter IG Index is calling the UK benchmark to start around 22 points lower.

This comes after UK stocks were buoyed yesterday as the market was stunned by the mega -takeover deal of Britain’s biggest name in the tech sector.

Cambridge based chip designer ARM Holdings plc (LON:ARM), which supplies components for Apple agreed to an eye watering £23.4bn premium takeover offer from Japan’s Softbank on Monday.

It sparked talk of many more takeovers coming due to the weaker pound making UK companies a bargain for overseas buyers.

On Wall Street, the Dow closed just 0.09% up and the S&P500 added 0.24%.

In Japan, the Nikkei 225 performed strongly, adding 1.37% to 16,723, but the Shanghai Composite Index lost 0.75%.

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Paul

The author Paul