The FTSE’s decline accelerated as Wednesday went on, the losses in its mining and banking sectors, alongside the wider fears over what will happen between Donald Trump and Jean-Claude Juncker this evening, dragging the index further below 7700.
Falling 55 points the UK index ended up shedding most of the growth it managed on Tuesday, shrinking under the weight of its commodity sector, which went into retreat despite the gains seen by Brent Crude and copper. There was less movement from sterling, which rose 0.2% against the dollar and 0.1% against the euro, though that was enough to keep the pound at one-ish week highs.
The eurozone indices also appeared low-level concerned about tonight’s White House soiree between the Presidents of the USA and European Commission, though the lack of commodity bother meant the region’s losses were less than those suffered by the FTSE. The DAX was down 0.3%, ducking back under 12700, with the CAC slipping just 0.1% to hold above 5400.
Unlike its peers, the Dow Jones currently appears fairly sanguine about the potentially week-defining get together between Trump and Juncker. The futures have the index opening the day flat just below 25240, meaning its all set to hold on to the 6 week highs struck on Tuesday.
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