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FTSE Subdued As SSE And Energy Peers Weigh On Index

Published 12/09/2018, 12:42
Updated 21/10/2020, 09:15

The markets remained relatively subdued, the early shots taken by China’s President Xi at protectionism – i.e. the US – creating an uneasy backdrop for trading.

Losses at SSE (LON:SSE), which fell nearly 8% after it issued a warm weather-inspired profit warning, and the domino-effect at Centrica (LON:CNA), which slipped 3.4%, helped prevent the FTSE join its peers in the green. Instead the UK index sat flat at 7260, failing to capitalise on the gains seen in its oil and mining stocks. The pound, meanwhile, nudged 0.1% higher against both the dollar and the euro, keeping the week’s Barnier-boost without being able to build on that growth unassisted.

Over in the eurozone the CAC continued to outperform the DAX, with the German index up 02% – falling back from the 12000 mark it re-crossed earlier in the session – to its French counterpart’s half a percent increase.

Turning to the US open and the Dow Jones is back flirting with 26000, the futures suggesting the index will just about hit that key level following a 30 point increase. August’s PPI reading – expected to jump from 0.0% to 0.2% month-on-month – is the only data-distraction on offer, meaning the markets may be susceptible to any trade war twists the afternoon throws up.

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