Spreadex Market Update

FTSE directionless as markets mull over Kudlow’s trade warmongering



Much like on Wednesday, a quiet morning allowed the European markets to attempt a rebound this Thursday – but with a potentially rocky US session looming on the horizon following new chief economic advisor Larry Kudlow’s trade warmongering words for China.

The FTSE, as it is wont to do, lagged behind its Eurozone peers after the bell, sitting the wrong side of 7150. The UK index is pretty damn directionless at the moment, at the mercy of US sentiment after being softened up by Philip Hammond’s lacklustre Spring Statement on Tuesday.

Next week should see things change for the FTSE – and indeed the pound, which is up 0.1% against both the dollar and the euro – as it deals with the potentially deadly quartet of inflation, wage growth and retail sales readings AND a Bank of England rate vote. For now, however, the index is at a loss for what to do.

Over in the Eurozone there was a bit more action. The CAC climbed back towards 5250 after rising 0.2%, while the DAX leapt half a percent to tease 12300. Again, there isn’t a lot for the region to grapple with this Thursday, though the German and French indices seem to be more willing to make the most of the momentary calm than the FTSE.

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