FTSE 100 Shares Remain Under Pressure as US Equities Lose Momentum
In mid-morning trade, FTSE 100 shares are once again under a little pressure.
After some gains earlier in the week, a cautious approach has crept back into trading this morning.
Last night saw US equities run out of steam in the last hour of trading, which is now dictating the tone in the UK.
There has been muted reaction to the unemployment figures, but a rise in the claimant count will do little to reassure concerns about stuttering economic recovery.
This continues the trend of relatively weak macro data over the past six weeks.
At the moment the FTSE clearly remains unable to sustain any meaningful rallies and further slides should not come as a surprise.
Looking ahead to the US open, overnight trading is indicating a start of around 50 points lower.
Industrial production and inflation numbers are due out this afternoon, but unless there are significant, and positive, surprises here, it could be another session where the Dow struggles to make much headway through the 12,100 mark.
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Financial Market Comments from Yusuf Heusen, Senior Sales Trader, IG Index.
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June 15, 2011 No Comments