Trade Weighs On Miners

Monday, 14th October: After a mellow start to the day, it didn’t take much time for the blue-chip index to be weighed down by the miners as investors seemed increasingly cautious about the U.S.-China trade deal which on the surface seemed to be on the mend, but doubts increased throughout the morning as it became visible that the end actually is not near. By around 9:00 BST the index was down roughly 0.5%, led by Evraz, and Brent was down 2.0% to $59.32.

One of the highlights today surrounding Brexit was the Queen’s speech in which she presented Prime Minister Boris Johnson’s plans for life outside of the EU. The policies covered a range of topics from crime, healthcare, the environment and immigration, which don’t look alarmingly likely to be passed as Johnson continues to struggle to gain support from other members of parliament.

The blue-chip index ended the day as it started, with Evraz at the bottom and media group WPP at the top. The FTSE 250 had a more difficult day with the likes of Domino’s struggling to make peace with franchisees who are now refusing to take part in the larger groups’ national campaigns.

At the end of the day the FTSE 100 had closed 0.46% lower at 7213 whilst the FTSE 250 suffered slightly more by 0.56% taking it down to 19929.

Leave a Reply