Financial Market Comments from Anthony Grech, Market Strategist, IG Index.
In early trading, shares in London are a little weaker on a quiet start to the day.
The FTSE 100 has eased back slightly from yesterday’s fresh 21-month high, with little news to spur investors in either direction.
The biggest gainer so far is hedge fund business Man Group. They reported last night that the value of AHL had grown by over 3% in the last week, something that has led to a couple of positive broker comments this morning.
The share price of Man has been a market underperformer this year, but the last couple of months have seen the first seeds of recovery. Today’s jump has pulled in a few more short-term momentum traders.
The UK is getting little in the way of direction from the US at the moment with the Dow Jones so far failing to break the 11,000 mark.
In overnight trading, this index has also pulled back a little from Monday’s close and, at the moment, we are expecting the Dow to start off around 30 points lower.
With a quiet day on the economic calendar ahead, and with a significant portion of investors choosing to take extra holiday this week, it could be a quiet few days ahead.
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