Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....
9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius
FTSE 100 futures are currently trading at 7,245.3-lower by 0.98% as compared to the previous closing price. The contract, however, closed in the positive territory in the last trading session.
In the Cash Markets, the FTSE 100 lost 0.95% to 7,254.85 at the time of writing. The benchmark index has been closing in the positive territory since the last three trading sessions.
The FTSE 100 slipped today as U.S.-China trade tensions increased and stocks of Kingfisher plunged after weaker quarterly sales.
Trade concerns dragged Asia-exposed financial shares in the index like HSBC (down 0.77%) lower today.
Oil Major BP dropped 1.01% on supply concerns.
Sino-U.S trade tensions rose after the U.S. President said on Tuesday that he would hike tariffs on Chinese goods if a deal between the two sides was not reached.
The sentiment was also dampened after the U.S. Senate passed legislation backing protesters in Hong Kong, which drew criticism from China.
The news spurred selling of stocks related to trade-sensitive sectors. Miners Antofagasta and Anglo American fell 0.78% and 1.17% respectively at the time of writing.
The news also encouraged buying defensive stocks.
Insurer Aviva plunged 3.42% after the company disclosed that it was restructuring its business and selling its stake in its Hong Kong unit.
Domestic shares, which have benefited from polls hinting a likely Conservative wins in the upcoming election underperformed today.
U.K. PM Boris Johnson on Tuesday doubled down on his Brexit promise in a debate with Labour Party leader Jeremy Corbyn.
On the technical front, the RSI is currently at 44.57% and suggests that the market can move in the downward direction. The current price is below the MA5. The current price is below the middle line of the Bollinger Bands and is heading downwards.
Overall Bias is Negative and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.
Trade Suggestion- Limit Sell at 7249. Take Profit at 7223. Stop Loss at 7262