FTSE Futures Morning Update on 03 July 2019

The FTSE 100 Futures is trading at 7,520.50 up with +0.30% percent or +22.50 point. The CAC 40 Futures is trading at 5,576.82  up with +0.16% percent or +8.91 point. The DAX Futures is trading at 12,527.30  with a loss of -0.13% percent or -15.80 point. The EURO Stoxx 50 Futures trading at 3,500.00 with a loss of  -0.06% percent or -2.00 point.

TODAY’S FACTORS AND EVENTS

Samuel Tombs, chief UK economist at Pantheon Macroeconomics, called the PMI data a “worrying step change in the impact of the Brexit uncertainty”.

However, Tombs argued that the downturn could be brief, saying: “if, as we expect, the Brexit deadline is pushed back again in October, the construction sector should experience a quick recovery around the turn of the year.”

Also weighing on the pound perhaps, speaking at the Tory leadership husting in Belfast, Jeremy Hunt, reportedly vowed that there would be no border with Ireland after the UK left the European Union, but shortly afterwards told ITV that a no deal Brexit could be as bad as the 2008 financial crisis.

As an aside, in the background the media spotlight was on the reported plans for the likes of HSBC and Deutsche Bank to let go thousands of staff in the UK in the wake of Brexit.

PREVIOUS DAY ACTIVITY

For the day the FTSE 100 closed at 7,559.19  up with +0.82% percent or +61.69 point. France’s CAC  40 closed at 5,576.82  up with +0.16% percent or ++8.91 point.Germany’s DAX closed at 12,526.72 up with +0.04% percent or +5.34 point.

WORLD MARKETS

For the day the Dow is trading at 26,786.68 up with +0.26% percent or +69.25 point. The S&P 500 is trading at 2,973.01 up with +0.29% percent or +8.68 point. The Nasdaq Composite is trading at 8,109.09  up with +0.22% percent or +17.93 point.

In other parts of world, Japan’s Nikkei 225 is trading at 21,638.16 with a loss of -0.53% percent or -116.11 point. Hong Kong’s Hang Seng is trading at 28,800.31   with a loss of -0.26% percent or -75.25 point. China’s Shanghai Composite is trading at 3,013.87  with a loss of -0.99% percent or -30.07 point. India’s BSE Sensex is trading at 39,834.40 up with +0.045% percent or +17.92 point at 12:15 PM.