FTSE follows Wall Street downward

In mid-morning trading the FTSE 100 is down 25 points, as traders are nervous ahead of reporting season.

In London, equities have followed Wall Street lower after Dennis Lockhart stated his support for additional tapering. Added to that we have the mix of soft payrolls figures and an underwhwelming start to the US reporting season.

Barratt Developments’ figures weren’t good enough to win over investors. The homebuilder is off over 1% depite reporting a 19% increase in home completions. Michael Page is in the red after the recruiter eked out a small increase in fourth-quarter gross profits. Its UK business is showing signs of recovery.

ASOS’s stellar Christmas season gave traders the perfect reason to lock in profits. The online retailer revealed a 37% increase in revenue.

The cost of living in the UK dipped as the inflation rate fell to 2% in December, which is music to Mark Carney’s ears but may not be welcomed by the high street.

In the US, we are expecting the Dow to open 20 points higher at 16,280 as dealers gear up for JPMorgan's fourth-quarter earnings this lunchtime.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by analysts

This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.