FTSE 100 index poised to open slightly lower on Friday
IG’s FTSE 100 futures estimates show that the index is trading just under Thursday's closing price.
UK blue-chip equity barometer FTSE 100 is mixed in overnight trading, IG data show.
IG's live FTSE 100 futures price estimates showed the index moving sideways along a median price level of 6170 as at 07:00 GMT on Friday 29 May 2020.
This represents a slight dip from the previous day’s peak of 6240, when Footsie futures rose roughly 0.33% just after the regular market had closed.
Gain access to the FTSE 100 and thousands of financial markets via IG's world-leading trading and investments platform. With CFDs (read about CFDs here), you can buy long or sell short on indices, shares, forex and more depending on whether you think prices will rise or fall. Start today by opening a live or demo IG account.
European markets rally in anticipation of recovery
The FTSE rallied over 8% just this week alone, as investors braced themselves for the reopening and recovery of economies across the continent.
Thursday’s gains come a day after the European Commission – the executive branch of the European Union (EU) – put forward a proposal for what it called a ‘major recovery plan’ to help EU member nations repair their economies in the aftermath of Covid-19.
Called Next Generation EU, the recovery instrument will be worth 750 billion euros if approved, with over 300 million euros going towards Italy and Spain – the two worst hit countries during Covid-19.
The Covid-19 recovery package, which will be in addition to the long-term EU budget for 2021-2027, will bring the total value of the EU budget to €1.85 trillion.
FTSE’s top gainers and losers
Top performing FTSE 100 constituents on Thursday were: Burberry Group (+7%), Evraz (+6.56%), M&G (+6.3%), Melrose Industries (+5.78%) and Informa (+5.05%).
The biggest losers on the day were: Rolls-Royce (-7.5%), Centrica (-3.98%), HSBC (-2.76%), D S Smith (-2.5%) and Auto Trader Group (-2.21%).
How to trade indices with IG
Are you feeling bullish or bearish about the FTSE 100 index and other European benchmarks, such as Germany's DAX 30? Either way you can buy (long) or sell (short) the asset using derivatives like CFDs in a few easy steps:
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
Please see important Research Disclaimer.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.