Asia worries weigh on FTSE

Asian-inspired wobbles have knocked the FTSE back, sending the market 22 points lower by mid-morning.

Hong Kong finance district
Source: Bloomberg

The increased volatility that markets enjoyed last week looks set to continue, as European traders settle in with news of mass protests in Hong Kong destabilising Asian confidence and knocking stocks. The ensuing chaos has seen Standard Chartered drop by almost 2% following the closure of its operations in the previous British colony.

Balfour Beatty shares have collapsed this morning after it announced its third profits warning in five months and brought in auditors KPMG.

Today’s fresh £75 million write-down has seen shareholders disenchantment turn ugly, with shares down over 25% in early trading.

Having managed to avoid adverse affects to share price caused by any investor concern over  Scotland's debated independence, Aberdeen Asset Management has instead added almost £8 billion in assets managed.

Investors’ attention can’t help but be pulled to events later in the week, as the full spectrum of manufacturing PMI figures from around the world kick off tomorrow.

With both the ECB and non-farm payroll figures coming out this week, a sense of calm should prevail today before stormier times materialise as the week progresses.

Ahead of the open we expect the Dow Jones to start 73 points lower at 17,040.  

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.