Weak finish for FTSE

Chris Beauchamp IG

The FTSE 100 is 8 points lower as the day winds down, while US markets have been hobbled by a fall for Nvidia.

A lack of progress on trade talks and Nvidia’s poor performance have not helped markets to finish the week on a strong note, while the Brexit drama refuses to go away as a no confidence vote in the PM becomes more likely. The US and China remain bogged down in arguments over tariffs, and as so often before moves to secure further negotiations have ended in failure. Equities in general continue to trade in a sideways fashion, with attempts to move higher frustrated by a collection of worries. While we have seen the session turn more optimistic, there is still no clear return to the easy move higher seen earlier in the year. Oil prices however have managed to put in another good day, but for
now this still seems like one of the short-lived rebounds that we have become used to over the last month.

The working week finishes with Theresa May still in power, a prospect that looked doubtful just 36 hours ago. However, the volatility is not over yet for GBP traders, who must now gird themselves for the real possibility of a no-confidence vote that might upend the Brexit process just as we started to get some clarity.

Author

Chris Beauchamp

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