The FTSE 100 is expected to open little changed on Wednesday morning as traders take a breather following Tuesday’s surge.
Spread-better IG expects the FTSE 100 to start around 7 points higher after ending Tuesday’s session with a 100 point gain to 6,602, its highest level since early March.
Expectations of a flat open followed a negative performance for Wall Street overnight, with the Dow Jones Industrial Average closing down 0.22% at 30,335 while the S&P 500 dropped 0.22% to 3,727 and the Nasdaq fell 0.38% to 12,850.
Trading was more mixed in Asia this morning, with Japan’s Nikkei 225 down 0.45% while Hong Kong’s Hang Seng rose 1.5%.
While the FTSE 100 is set for a muted start, there could be some news that may drive the market higher despite the seasonally quiet trading period, particularly following recent news that the UK regulator has approved a coronavirus vaccine made by AstraZeneca PLC (LON:AZN) and the University of Oxford, increasing the chances of mass vaccinations of the British population amid a surge in cases of the virus.
Around the markets:
Sterling: US$1.35, up 0.3%
Brent crude: US$51.40 a barrel, up 0.6%
Gold: US$1,881 an ounce, up 0.22%
Bitcoin: US$28,422, up 8.4%