FTSE Struggles to Find Direction Ahead of Christmas Wind Down
Financial Market Comments from David Jones, Chief Market Strategist, IG Index.
In mid-morning trading, shares in London have started off a little weaker with the FTSE 100 back below 5300.
A lacklustre performance by US shares on Monday seems to have set the sluggish tone for trading in London this morning with the FTSE slipping back to levels from the end of last week.
UK inflation data came as something of a surprise – for November this came in at 1.9% which was ahead of expectations and the fastest rise in six months.
Last week’s recovery drove the FTSE index back up above 5300 and since mid-November there has been a marked loss of momentum for the market whenever that barrier has been breached.
With no real compelling reason to load up on shares ahead of the break and with many already starting the wind-down into Christmas, it looks like we may be set for an “up one day, down the next” directionless week.
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.
Content provided by IG Index which is Authorised and regulated by the Financial Services Authority. FSA Register number 114059.
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