FTSE to open lower as traders look to take profits
Source - SMW
FTSE 100 is set fall back at the open, following yesterday's record breaking performance, with traders looking to take profits while second guessing whether the share index is heading into bubble territory.
Trading volumes are expected to remain relatively low, given the general lack of meaningful Corporate news or economic releases.
At around 6:15am, the FTSE 100 was called 7.8 points lower at 7,690.50 by the spread betting firms.
It was a case of fresh records on both sides of the Atlantic, with the Dow Jones rising 152.45 points (0.61%) to break through the psychological 25,000 barrier for the first time, reaching 25,075.13 at the close.
This latest surge was largely due to strong employment data in the US.
The broader-based S&P 500 added 10.93 points (0.40%) to end at 2,723.99 and the tech-focussed NASDAQ gained 12.38 points (0.18%) to 7,077.91.
Asian markets were also higher this morning as global optimism continues.
Heading into the close, the Hang Seng was 5.35 points (0.02%) higher at 30,741.83 and the Nikkei 225 advanced 201.41 points (0.86%) to 23,707.74.
The Shanghai Composite added 9.30 points (0.27%) at 3,395.01.
At around 6:00am, crude oil prices remained at elevated levels with West Texas Intermediate trading at $61.96 per barrel and Brent at $68.03 per barrel.
Gold was 0.05% firmer at $1,322.30 an ounce, silver was down 0.17% and copper was 0.09% lower.
EGM's: Alpha Real Trust.
Economic Releases: The BRC Shop Price Index reading.