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FTSE called lower as markets react to Fed minutes

Thursday, 22nd February 2018
The FTSE 100 is expected to start the day firmly in the red following overnight weakness on markets in the US and Asia after the Federal Open Market Committee released its latest meeting minutes.

Negative sentiment on Wall Street spilled over into Asia this morning with investors becoming increasingly jittery over the tone from new Chairman of US central bank, Jerome Powell.

With a US rate hike at the March meeting almost a certainty, Asian investors are concerned over the impact this will have on the cost of borrowing and growth in the region.

Back in the UK, traders will be busy unravelling a glut of Corporate and economic announcements scheduled for today, while commodity price pressures will act as a further drag on sentiment in the City.

Spread betting firms expect the blue-chip index to fall by around 62 points to 7,211 when trading gets underway in London.

OVERSEAS MARKETS

On Wall Street overnight, the Dow fell 166.97 points, or 0.67%, to end the day at 24,797.78.

The S&P 500 ended 14.93 points lower at 2,701.33 and NASDAQ shed 16.08 points at 7,218.23.

In Asia this morning, the Nikkei 225 was 246.46 points lower at 21,724.35 heading into the close.

The Hang Seng was also in negative territory, with the index down 0.82% at 31,172.71.

COMMODITIES

At around 6:00am, WTI crude was 0.96% lower at $61.09 per barrel and Brent crude was down 0.72% at $64.95 per barrel.

Gold was 0.48% softer at $1,325.7 an ounce, silver was down 1.16% and copper was 1.09% lower.

LONDON MARKETS

Trading Statements: Hansard, Northgate and Safestore.

Interim Results: Go-Ahead, Hays and Wilmington.

Final Results: Hellenic Telecommunications, Bouygues, Anglo American, BAE Systems, Barclays, British American Tobacco, Blackrock World Mining Trust, Centrica, Foresight Solar Fund, Intu Properties, Kaz Minerals, Kazmunaigas, Macfarlane, Morgan Sindall, Moneysupermarket.com, Playtech, Rathbone Brothers, RSA Insurance, Serco, TBC , Telefonica and Vitec.

AGM's / EGM's: APC Technology and Zytronic.

Economic Announcements:

- Preliminary Business Investment

- Index of Services

- Second Estimate GDP

- CBI Realized Sales

Story provided by StockMarketWire.com


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