UK PRE MARKET
The FTSE 100 Futures is trading at 7,569.50 with a loss of -0.69% percent or -52.50 point. The CAC 40 Futures is trading at 5,348.63 with a loss of -0.72% percent or -38.75 point . The DAX Futures is trading at 12,443.50 with a loss of -0.76% percent or -95.00 point . The EURO Stoxx 50 Futures is trading at 3,403.00 with a loss of -0.70% percent or -24.00 point.
TODAY’S FACTORS AND EVENTS
London stocks were set for a weaker open on Monday, taking their cue from losses in Asia amid ongoing worries about a trade war between the US and China.
The FTSE 100 was called to open 36 points lower at 7,646.
London Capital Group analyst Jasper Lawler said: “A ramping up in tit for tat trade measures are sending shivers down the spine of the market.
“The markets shrugged off Trump’s retaliation on Friday, threatening 20% tariffs on EU cars. In the latest escalation of the trade war Trump has decided to take aim at Chinese investments. A draft series of restrictions on inbound Chinese investments are due to be published later this week, in a move which could have great long-term consequences on the US – Sino economic relationship. Once again details remain very sketchy, with the scope of such a measure still under discussion. It is now very difficult to get away from the fact that neither side has any intention of backing down in this game of economic ‘chicken’.”
For the day the Dow is trading at 24,580.89 up with +0.49% percent or +119.19 point. The S&P 500 is trading at 2,754.88 up with +0.19% percent or +5.12 point. The Nasdaq Composite is trading at 7,692.82 with a loss of -0.26% percent or -20.14 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,338.15 with a loss of -0.79% percent or -178.68 point. Hong Kong’s Hang Seng is trading at 28,930.77 with a loss of -1.39% percent or -407.93 point. China’s Shanghai Composite is trading at 2,859.34 with a loss of -1.05% percent or -30.42 point. India’s BSE Sensex is trading at 35,592.31 with a loss of -0.27% percent or -97.29 point at 12:15 PM.