FTSE Index Recovers Slightly After Sharp Falls
Financial Market Comments from Tim Hughes, Head of Sales Trading, IG Index.
In mid-morning trading UK shares are under pressure as markets remain jumpy.
We have already seen the FTSE 100 index trade in a 90 point range this morning as the fallout from the Dubai debt announcement continues.
After the initial volatility, shares in London have stabilised for now – but some traders are still far from certain that we have seen the last.
With US markets only open for half a day today – and no doubt many over there deciding to make a long weekend of Thanksgiving – we are going to have to wait till early next week to see if stock markets view this as a little local difficulty, or something more serious.
To keep some perspective, the FTSE 100 is still up by around 3% for the month and well above the 5000 mark that has proved to be such a strong floor recently.
Looking ahead to the US we are expecting the Dow Jones to start off around the 10,200 level – around 260 points lower than where it closed on Wednesday.
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Good Luck!
DB
The above comments do not constitute investment advice Clean Financial accepts no responsibility for any use that may be made of them.
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