UK PRE MARKET
The FTSE 100 Futures is trading at 7,656.50 with a loss of -0.67% percent or -52.00 point. The CAC 40 Futures is trading at 5,412.41 with a loss of –0.74% percent or –40.41 point . The DAX Futures is trading at 12,809.50 with a loss of -0.71%percent or -91.00 point . The EURO Stoxx 50 Futures is trading at 3,459.00 with a loss of -0.66% percent or -23.00 point.
TODAY’S FACTORS AND EVENTS
London stocks were set for a weaker open on Thursday as investors digested a policy announcement from the Federal Reserve and looked ahead to the European Central Bank’s decision later in the day.
The FTSE 100 was called to open 25 points lower at 7,678.
As expected, the Fed hiked interest rates by 25 basis points on Wednesday, for the second time this year. The central bank also upgraded its forecasts for this year and the next and said it expects to deliver another two rate hikes this year and three in 2019.
London Capital Group analyst Jasper Lawler said: “Whilst the Fed’s second rate rise this year was broadly expected, the central bank’s increasingly hawkish tone came as a bit more of a surprise, sending US equities and treasuries lower, whilst also causing a brief spike higher in the dollar. The US economic outlook has improved with the Fed expecting a continued fall in unemployment to 3.5% and a rise in inflation (PCE ) to 2%.
For the day the Dow is trading at 25,201.20 with a loss of –0.47% percent or –119.53 point. The S&P 500 is trading at 2,775.63 with a loss of – 0.40% percent or –11.22 point. The Nasdaq Composite is trading at 7,695.70 with a loss of -0.11% percent or –8.09 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,738.61 with a loss of –0.99% percent or –227.77 point. Hong Kong’s Hang Seng is trading at 30,440.17 with a loss of –0.93% percent or –284.98 point. China’s Shanghai Composite is trading at 3,044.16 with a loss of –0.18% percent or –5.64 point. India’s BSE Sensex is trading at 35,615.53 with a loss of –0.35% percent or –123.63 point at 12:15 PM.