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.  

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