Published On: Tue, Jun 9th, 2020

FTSE 100 LIVE: Global stocks struggle due to US central bank’s interest rate uncertainty | UK | News


Japan’s Topix was flat while Hong Kong’s Hang Seng and Australia’s S&P/ASX 200 edged higher by 0.2 percent and 0.4 percent. China’s CSI 300 index of Shanghai- and Shenzhen-listed stocks shed 0.2 percent. Overnight, Wall Street’s S&P 500 ended the session 0.7 percent lower while Europe’s Stoxx 600 fell 1.2 percent after weak German trade data raised concerns over the global economy’s recovery from the coronavirus pandemic.

Steve Englander, head of North America macro strategy at Standard Chartered told the FT: “This is dovish, but widely expected.

“Fed chair [Jerome] Powell is similarly expected to reaffirm the downside skew of economic and market risks, the expectation of easy money as far as the eye can see, and the willingness to take policy as far as is needed to generate recovery.”

Futures markets tipped the S&P 500 and FTSE 100 to climb by 0.6 percent when markets in the US and UK open later in the day.

Shares initially surged 19 per cent before paring gains to trade 3 per cent higher. Oil prices fell with international market Brent dropping 1.2 per cent to $40.70 a barrel. US marker West Texas Intermediate slipped 1.4 per cent to $38.38.

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