The FTSE 100 Futures is trading at 7,160.00 up with +0.12% percent or +8.80 point. The CAC 40 Futures is trading at 5,293.00 up with +0.16% percent or +8.50 point. The DAX Futures is trading at 11,616.50 with 0.00% percent or -0.40 point. The EURO Stoxx 50 Futures trading at 3,324.00 with a loss of -0.06% percent or -2.00 point.
TODAY’S FACTORS AND EVENTS
London stocks finished on the front foot on Tuesday, helped by a weaker pound as investors mulled the latest reading on the UK services sector and a downgrade of China’s economic growth target for this year.
Overnight, China downgraded its economic forecast to growth of 6-6.5% this year, down from the 6.5% seen in 2018. However, Beijing also unveiled $298bn in tax cuts as it looks to boost growth.
The Caixin/Markit services purchasing managers’ index for February also came in at 51.1, down from January’s reading of 53.6 and marking the lowest level since October. It was also well below economists’ expectations for a reading of 53.5.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 25,806.63 with a loss of -0.050% percent or -13.02 point. The S&P 500 is trading at 2,789.65 with a loss of -0.11% percent or -3.16 point. The Nasdaq Composite is trading at 7,576.36 with a loss of -0.016% percent or -1.21 point.
In other parts of world, Japan’s Nikkei 225 is trading at 21,596.81 with a loss of -0.60% percent or -129.47 point. Hong Kong’s Hang Seng is trading at 29,020.27 up with +0.20% percent or +58.67 point. China’s Shanghai Composite is trading at 3,101.15 up with +1.54% percent or +46.90 point. India’s BSE Sensex is trading at 36,625.60 up with +0.50% percent or +183.06 point at 12:15 PM.