FTSE 100 Set for Softer Open as Middle East Tensions Lift Oil Prices
London stocks are set to open slightly lower on Wednesday as renewed tensions in the Middle East pushed oil prices higher, while investors awaited the latest US Federal Reserve interest rate decision. Futures. . .
London stocks are set to open slightly lower on Wednesday as renewed tensions in the Middle East pushed oil prices higher, while investors awaited the latest US Federal Reserve interest rate decision. Futures indicate theFTSE 100will open around8 points lower, or0. 1%, at10,860. 62, after the index climbed0. 8%to10,871. 02on Tuesday. Oil prices rebounded after the US and Saudi Arabia carried out strikes against Iran-backed militants in Iraq following a series of drone attacks on US forces and Saudi energy infrastructure. Jordan’s military also said it intercepted and destroyed five Iranian missiles as hostilities resumed after a brief lull. Brent cruderose toUS$87. 11 a barrel, whilegoldedged lower toUS$4,030. 65 an ounce. Investors are now focused on theFederal Reserve’spolicy announcement later on Wednesday. While economists overwhelmingly expect interest rates to remain unchanged, money markets continue to price in the possibility of further tightening before the end of the year. Wall Street finished mixed overnight, with theDow Jones Industrial Averageclimbing537 points, or1%, to close at52,747. TheS&P 500added0. 2%to finish at a record high of7,429, extending its recent gains. However, the technology-heavyNasdaq Compositeslipped0. 2%to24,877as semiconductor stocks remained under pressure. Attention will also turn to theBank of England, which is widely expected to leave rates unchanged when it announces its latest policy decision on Thursday. Asian markets traded mixed overnight. Japan’sNikkei 225fell1. 7%, while Hong Kong’sHang Senggained1. 3%, China’sShanghai Compositerose0. 8%, and Australia’sS&P/ASX 200added1. 0%. Among corporate movers,Standard Charteredjumped5. 8%in Hong Kong after reporting record first-half results, announcing aUS$1 billionshare buyback and upgrading its full-year income guidance. If anyone reads this article found it useful, helpful? Then please subscribewww. share-talk. comor followSHARE TALKon our Twitter page for future updates. Terms of Website UseAll information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned