FTSE 100 live: London dips following weak global cues
The daily London market update: Market moving news from the FTSE 100 and around the world from City A.M.
The latest updates on the FTSE 100 and London’s financial markets from City A.M.’s newsroom in the heart of the City of London.
Overnight, S&P 500, Nasdaq, and Dow Jones all decline, with healthcare and real estate sectors most affected.
Asian shares mirror Wall Street’s downturn, driven by high US Treasury yields.
Asian markets, including Japan’s Nikkei 225 and Taiwan’s shares, follow Wall Street’s downward trend. China’s blue chips dip, and Hong Kong’s Hang Seng index falls despite accelerated services industry expansion.
The benchmark US 10-year Treasury yield stood at 4.3451 per cent on Wednesday, having reached a four-month peak of 4.405 per cent overnight.
Oil prices rise amidst geopolitical tensions, while gold hits an all-time high during trading.
Taiwan was hit by its strongest earthquake in almost 25 years, causing damage and disruptions.
Tesla faces its first quarterly delivery decline in nearly four years, prompting a 5.2 per cent drop in shares and concerns over its market value.
China’s services sector shows promising growth with an uptick in new business. Caixin/S&P Global services PMI rose to 52.7, signalling expansion for the 15th straight month.
Fed policymakers lean towards three rate cuts despite recent economic uncertainties. Daly and Mester both support this move, citing favourable economic conditions.
Investor focus shifts to US employment figures and global election events. Eurozone awaits flash inflation data for March amid ECB rate cut speculations. No major economic data releases are expected in the UK.
Japanese authorities are closely monitoring their currency as it weakens against the US dollar. The yen is inching towards 152 per dollar, prompting verbal cautions from the authorities.
