Sleepy FTSE takes the day off

The FTSE100 is technically negative, though the trading is essentially flat on the day, with London's benchmark index trading sideways

Sleepy FTSE takes the day off

The FTSE100 is technically negative, though the trading is essentially flat on the day, with London’s benchmark index trading sideways, inundated by conflicting corporate and geopolitical messages. USD weakness, induced by Donald Trump’s dovish comments criticising the Fed’s monetary policy, is helping some Miners, but the benefit is truly minor today on the back of disappointing BHP Billiton full-year results, as well as stronger Sterling hurting globally-exposed heavyweights.

Contributors: FTSE -10pts, hampered by HSBA/BP (heavyweight, strong GBP), BLT (results missing expectations), RIO (BLT read-across Down Under), SHP (preference for AZN) and CPG (strong GBP, profit taking). Trying to maintain some positivity, though adding less than a point to FTSE 100, are RBS (bounce) and AAL (weak USD). Technicals: The FTSE100 is trading sideways for the second day in a row, though still holding within a 3-week falling channel.

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Categories: Analysis, News, Shares
Tags: FTSE 100

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