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UKX FTSE 100 Index

7,964.38
32.40 (0.41%)
Last Updated: 09:21:15
Delayed by 15 minutes
Name Symbol Market Type
FTSE 100 Index FTSE:UKX FTSE Indices Index
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  32.40 0.41% 7,964.38 7,964.86 7,931.98 7,931.98 0 09:21:15

Stocks Steady, Trump Inauguration Anticipation Holds Sway

18/01/2017 9:24am

Dow Jones News


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By Jon Sindreu 

Global markets were broadly flat Wednesday, a further sign of the caution that permeates financial markets ahead of President-elect Donald Trump's inauguration later this week.

The Stoxx Europe 600 remained mostly unchanged during the first minutes of European trade, with the technology sector as the biggest riser and media companies as the key losers. The FTSE 100 gained 0.3%, while futures pointed to an 0.2% opening rise for the S&P 500.

Asian shares were mixed, but the main developed index, the Japanese Nikkei, closed 0.4% higher.

In currencies, markets corrected the previous day's moves.

The pound fell 0.5% against the U.S. dollar, after its impressive 3% surge Tuesday, the biggest daily rise in eight years. Sterling was bolstered by U.K. Prime Minister Theresa May pledging to subject the final Brexit deal to a parliamentary vote.

The WSJ Dollar Index, which tracks the currency against a basket of 16 others, rose 0.3%. On Tuesday, it had hit a one-month low on the back of Mr. Trump describing the currency as "too strong" in an earlier interview with The Wall Street Journal.

Financial markets have struck a prudent tone ahead of Mr. Trump taking office, with investors appearing to have some second thoughts about the risk-driven trades that have dominated since the U.S. election on Nov. 8. While Mr. Trump's antitrade rhetoric has long scared many analysts, markets initially decided to focus on his plans to slash taxes and regulations and boost infrastructure spending.

Investors are now waiting for further clarity on such policies, as well as corporate earnings, to decide whether growth and inflation will come through or, rather, markets got ahead of themselves after the election.

Write to Jon Sindreu at jon.sindreu@wsj.com

 

(END) Dow Jones Newswires

January 18, 2017 04:09 ET (09:09 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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