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The FTSE opened down again this morning, losing 0.2% after the bell and sitting just above month lows.

Things may change a little later this morning with UK manufacturing and industrial production readings – which are forecast to rise to 0.5% and 0.4% respectively, alongside the goods trade balance figure, with the deficit set to widen to £10.8 billion.

Spreadex Analyst, Connor Campbell noted “Beyond the various geopolitical dramas that so weighed on the markets yesterday – including a Trump/Putin-focused G20 meeting – the UK index is dealing with the latest BP and Shell-upsetting retreat from Brent Crude, which fell 0.8% to dip to a one week low of $47.50 per barrel.”

“The Eurozone indices didn’t fare any better, continuing to suffer in light of the euro’s strength. The DAX dropped by 25 points and is now flirting with 2 and a half month lows, while the CAC is back below 5150 following a 0.3% decline”

Over in the US, the major indexes again closed lower yesterday. Accendo Markets Analyst Mike van Dulken commenting “Major US bourses closed sharply lower on Thursday as large-cap Tech stocks were subject to a sharp sell-off, while oil prices pared overnight gains to hurt Energy names.”

“The Nasdaq underperformed peers, falling 1% to highlight the weakness in Tech, while the S&P500 was not far behind, down 0.9% as the Energy sector compounded losses.”

“The Dow Jones fell by 158 points as Disney and Apple provided the most losses, offsetting a positive performance from DuPont.”

The main focus today, as they are on the first friday of each month will be the non-farm payrolls readings which are released early this afternoon. LCG Analyst, Ipek Ozkardeskaya suggested “The consensus for the June NFP is 178’000 versus 138’000 printed a month earlier. The average hourly earnings may have improved by 0.3% month-on-month, from 0.2%.”

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Michael Morton

Michael Morton

Michael has worked within the Financial Industry for more than 20 years. Starting out as a financial analyst, he has extensive experience working with fund management groups and brokerages.

With an interest in Stocks and Shares, Funds, ETFs and Commodities, his investment focus is medium to long term gains, with the objective of financial security on retirement, and building wealth for his young children for their adult life. His broker of choice is Hargreaves Lansdown.

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