FTSE Sees Lower End to 2018

Wednesday, 2nd January 2019

The final day of the year was dominated by news of the Chinese economy, and the breakdown in trade relations between China and the USA, which had led to a sell-off in Chinese stocks. The Chinese CSI 300 has been the poorest performer out of all the major indices, shedding 25 percent over the course of the year. However, there is hope that there could soon be an improvement in global trade relations.

The UK’s leading index was relatively muted for most of the day. The pound firmed slightly against the Euro and the Dollar, which hampered prices for some companies which take their earnings in foreign currency. There were some gainers in the domestic-focused companies, but not enough to make the FTSE 100 or FTSE 250 make any major movements in either direction.

Chinese manufacturing and PMI data was the main thing dominating the headlines, and that data is of importance to FTSE 100 investors, since the health of the Chinese economy is a factor for many basic materials companies. China is the world’s biggest consumer of basic materials, and if their economic growth is slowing down then that is something that will be felt by those companies all over the world.

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