Business

FTSE falls below 7,000 – live updates

Good morning. The FTSE 100 is about for a cautious open after Asian shares reacted badly to recent restrictions from China, with the Hang Seng sinking virtually 2pc for its worst degree in 9 months. London’s principal index is about to open round 0.15pc decrease than yesterday’s flat buying and selling session regardless of a glut of earnings from the likes of Reckitt Benckiser, Games Workshop and FTSE beginner Moonpig.

US markets notched up new document highs yesterday forward of as we speak’s Federal Reserve meeting, whereas Microsoft and Apple are anticipated to put up sturdy earnings later after Tesla topped steering final evening.

5 issues to begin your day 

1) Hinkley Point C beneath risk from crackdown on China: The plant is because of come on-line in 2026, supplying 7pc of the nation’s electrical energy.

2) Tesla posts document income of $1.1bn, however warns on chip scarcity: Chief govt Elon Musk says chip provide is “the limiting factor on our output”.  

3) Amazon faces satellite tv for pc broadband setback: Regulator is weighing new guidelines which may have an effect on on-line big’s $10bn (£7bn) “Project Kuiper” system to ship quick and low cost broadband to rural areas. 

4) Delivery driver disaster may result in empty cabinets at Christmas: Will drivers return to UK in time for festive season? 

5) Sadiq Khan pleads for £500m bailout as Londoners face cuts to Tube and bus companies: Transport for London is to chop weekend and off-peak companies. 

What occurred in a single day 

Asia’s stock markets fell to recent troughs on Tuesday led by a 3rd straight session of heavy promoting in Chinese web giants, whereas bond and foreign money markets traded on edge forward of the Federal Reserve coverage meeting.

MSCI’s broadest index of Asia-Pacific shares exterior Japan fell 0.25pc to its lowest degree since mid-December, extending a low set the day earlier than.

The Hong Kong benchmark fell 0.59pc, its third day of declines, with the Hang Seng Tech index down 2pc to its lowest since its inception in July 2020. It is down about 11pc in three days and has lost 40pc from a February peak.

Elsewhere in Asia, markets had been a little bit extra optimistic, with Japan’s Nikkei rising 0.35pc, and Australian shares up 0.54pc. S&P 500 futures dipped 0.1pc and Euro STOXX 50 futures had been broadly regular.

Coming up as we speak

Full year: FirstGroup, Moonpig, Games Workshop, In The Style

Interim: Reckitt Benckiser, Reach, R Walters, Croda, Capital & Counties, Unite, Vivo Energy

Economics: BRC store value index (UK)

Back to top button