Financial Market Comments from Tim Hughes, Head of Sales Trading, IG Index.

In mid-morning trading there is not much change for UK shares.

Trading in the UK started off with a bit of a wobble with share prices weaker following Monday’s strong gains.

As the morning has gone on, however, the market has regained its composure to end up fairly flat on the day so far.

As usual, the miners are adding to the volatility, with most – apart from Anglo American – off by around 1% so far today, but this is not too surprising as the sector gained strongly on Monday following the hike in commodity prices.

There’s not much else going on in the UK market so far today, and focus is going to be on some potentially market moving data due out in the afternoon and evening.

The US second estimate of GDP is expected ahead of the Wall Street open, and later in the session we’ll expect the release of the minutes from the latest Federal Reserve meeting.

It would take some big surprises in both of these releases to knock market sentiment at the moment and overall shares are still expected to move higher as the week goes on.

Ahead of the open there is little change in overnight trading for the US, and at the moment we are expecting the Dow Jones to start off broadly unchanged.

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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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