FTSE 100 set for flat start as investors search for direction
Spread betters IG expect the blue-chip index to open up less than one point after ending Tuesday’s session 22 points lower at 7,029
The FTSE 100 is expected to open mostly flat on Wednesday as investors in London are left searching for direction amid what appears to be a lack of major news that could move markets.
Spread betters IG expect the blue-chip index to open up less than one point after ending Tuesday’s session 22 points lower at 7,029.
The placid start follows a negative finish for Wall Street overnights, with the Dow Jones Industrial Average closing down 0.24% at 34,212 while the S&P 500 dropped 0.21% to 4,188 and the Nasdaq fell 0.03% to 13,657.
However, the negativity may have been offset by a positive performance in Asia this morning, with Japan’s Nikkei 225 rising 0.35% while Hong Kong’s Hang Seng is up 0.78% as inflation fears continued to ease.
The one area which may provide some fireworks in the cryptocurrency markets as the third day of the Consensus industry conference kicks off.
On currency markets, the pound was up 0.11% against the dollar at US$1.416, although there seems little in the macroeconomic diary today that could provide any movement catalysts.
Around the markets:
Sterling: US$1.416, up 0.11%
Brent crude: US$68.70 a barrel, up 0.07%
Gold: US$1,906 an ounce, up 0.43%
Bitcoin: US$39,418, up 2.6%
6.50am: Early Markets – Asia / Australia
Stocks in the Asia-Pacific region were mostly higher on Wednesday as the Reserve Bank of New Zealand announced it would maintain the current stimulatory monetary settings until its inflation and employment targets are met.
The Shanghai Composite in China gained 0.22% and Hong Kong’s Hang Seng index lifted 0.80%
In Japan, the Nikkei 225 rose 0.36% while South Korea’s Kospi gained 0.03%.
Shares in Australia dipped, with the S&P/ASX 200 trading 0.05% lower.
Proactive Australia news:
’s () drilling results from the Windanya and Baden Powell project areas have enhanced the company’s golden pipeline being progressed in Western Australia.
’s () (FRA:1X8) target acquisition company Halucenex Life Sciences Inc has entered into a consultancy agreement with US-based scientific consultancy HeteroGeneity LLC to progress a US market entry strategy for the potential use and licensing of botanical psilocybin products and compounds.
South Harz Potash () has secured permission from landowners and tenants for the first of two planned drill holes at the Ohmgebirge potash mining licence area in Germany and has applied for regulatory approval with regulatory authority Thüringer Landesamt für Umwelt, Bergbau und Naturschutz (TLBUN).
() () has entered into a share purchase agreement for the acquisition of 100% of the issued share capital in Scancam Industries Pty Ltd, Australia’s leading provider of AI anti-theft solutions to fuel retailers.
() has extended Tchaga prospect strike length to 1.8 kilometres on the Napié Project in Côte d’Ivoire with the latest shallow, high-grade results to be included in an upcoming maiden resource estimate.
() has been granted patents for its CelGro® collagen rope in China and Hong Kong, bringing the number of countries it is patented in to five.
() (FRA:N6D) has been accepted into the European Raw Materials Alliance (ERMA), a membership, which aligns with the company’s commitment to improve the resilience of critical supply chains and energy security.
Venture Minerals Limited () () has commenced drilling at Mount Lindsay on the high priority tin target delineated along strike to the high-grade Renison Bell Tin Mine, one of the world’s largest and highest grade tin mines.
’s () Paterson Province neighbour Newcrest Mining Ltd () (TSE:NCM) (OTCMKTS:NCMGF) continues to demonstrate support for the company by maintaining a 9.9% shareholding.
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