FTSE 100 struggles following losses for Sainsbury's & Admiral
|Despite small gains on Wall Street, a cautious tone prevails for markets as the quiet part of the week looks to give way to the key US inflation print, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
FTSE 100 in the red in subdued trading
“In London the FTSE 100 has seen a more negative tone to trading today, hit hard by falls for Sainsbury’s and Admiral. The former’s good Christmas food performance did offset its poorer sales in other categories, and given this was the problem for M&S for so long investors will fret that Sainsbury’s is heading in a similar direction. While housebuilders have propped up the index following Persimmon’s update, broader risk-off sentiment could prevail tomorrow and beyond should US inflation show signs of reviving.”
Stocks edge lower as investors look towards US inflation data
“The countdown to the latest US inflation reading has begun, and investors are hunkering down ahead of a potentially volatile period for markets. The month so far has been relatively quiet, and the past few days have seen the equity rally flicker into life, most notably for the Nikkei 225. But overall the gains have been cautious.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.