Find Your Broker
Name Symbol Market Type
FTSE 100 FTSE:UKX FTSE Indices Index
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  +40.00 +0.58% 6,895.02 6,910.45 6,849.63 6,855.02 0 16:35:31

EUROPE MARKETS: FTSE 100 Falls With Markets' Mini Winning Streak Under Threat

10/01/2019 11:14am

Dow Jones News


FTSE 100
Index Chart

1 Month : From Dec 2018 to Jan 2019

Click Here for more FTSE 100 Charts.

By Emily Horton

London markets followed Europe's major indexes into the red on Thursday, though a group of big U.K. retailers bucked the trend on the back of the latest Christmas figures.

What did markets do?

The U.K.'s FTSE 100 dropped 0.4% to 6,877.79, after finishing 0.7% up on Wednesday. The pound dropped to $1.2758 from $1.2788, late in New York on Wednesday.

What is driving the markets?

British secretary of state for business Greg Clark on Thursday warned that crashing out of the European trading bloc without a deal would be a "disaster" for the U.K (http://www.marketwatch.com/story/brexit-brief-uk-business-secretary-warns-of-disaster-from-crash-out-exit-2019-01-10). His comments differ from the policy line of his boss, Prime Minister Theresa May, who has so far refused to rule out the prospect of a no-deal Brexit.

On Wednesday, more than 300 British politicians backed an amendment that will require May to outline a new Brexit plan within three days if her current proposal is rejected at a vote on Jan. 15.

(http://www.marketwatch.com/story/us-gains-312000-jobs-in-final-month-of-2018-soaring-above-wall-street-forecast-2019-01-04)In China, consumer and producer prices decelerated sharply (http://www.marketwatch.com/story/chinas-sluggish-prices-raise-deflation-fears-2019-01-10-24851247) last month, compounding the challenge for Beijing to boost sluggish demand in a deepening economic downturn. This replaced the investor optimism around the progress in U.S./China trade talks that had lifted markets on Wednesday.

Another worry for investors is the partial U.S. government shutdown, with the stalemate entrenched after President Donald Trump walked out of his latest meeting with Democrats (http://www.marketwatch.com/story/trump-today-president-keeps-border-emergency-option-on-table-as-he-meets-with-lawmakers-2019-01-09).

What stocks are active?

U.K. bicycles-to-car parts retailer Halfords Group PLC (HFD.LN) dropped by 18%, after it announced weak consumer confidence would hit its profits projections for 2019, Reuters reported (https://www.reuters.com/article/halfords-grp-outlook/update-1-halfords-shares-set-to-sink-on-profit-warning-idUSL3N1ZA2PW).

Miners were also under pressure on Thursday, with BHP Group PLC (BHP.LN) losing 6%. Fashion designer Burberry Group PLC (BRBY.LN) lost almost 3%, amid mounting evidence for the Chinese consumer spending slowdown.

Supermarkets took to the FTSE 100 top spots on Thursday. Marks & Spencers Group PLC gained almost 3%, despite a fall in sales figures (http://www.marketwatch.com/story/marks-spencer-sales-fall-backs-guidance-2019-01-10). Tesco PLC (TSCO.LN) gained 2% after it announced strong Christmas sales results (http://www.marketwatch.com/story/tesco-beats-on-christmas-sales-targets-on-track-2019-01-10). J Sainsbury PLC (SBRY.LN) and Wm. Morrisons Supermarket PLC (MRW.LN) also added 2%

 

(END) Dow Jones Newswires

January 10, 2019 05:59 ET (10:59 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

1 Year FTSE 100 Chart

1 Year FTSE 100 Chart

1 Month FTSE 100 Chart

1 Month FTSE 100 Chart
Your Recent History
FTSE
UKX
FTSE 100
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20190116 06:48:04