Early trading on the London Stock Exchange indicates investment firms are now waiting for that all-important Bank of England base rate announcement, as performance is so far mixed around the prospect of an interest rate rise.
Within the first few minutes of trading, the FTSE 100 barely moved, as the big name stocks struggled to maintain their positions.
RBS fought back against yesterday’s share price drop – following an announcement about the purchase of US financial firm Charter One – and added 14p or 0.9% to £16.39.
In contrast, however, BT Group is already on the downward slide, having dropped 1.5p or 0.8% to 178p in the first hour.
British Airways, InterContinental, Liberty International, Shire Pharmaceutical and WPP Group all lost at least 1% each within the first hour of trading.
In Asia, a rally on the yen again threatens to reduce the earnings potential of stocks, such as Toyota Motor and Mitsubishi, which rely on overseas sales in dollars to boost overall profits.
Markets adjusted to the currency change, with both the Japanese Nikkei and the South Korean Kospi closing down.
The Nikkei ended the day 1.6% down at 11,571 while the Kospi lost 3.4%.
And in the US yesterday, trading also ended the day mixed, in part because there is also talk of a potential US base rate rise.
The Dow Jones closed down at 10.310 while the Nasdaq and S&P500 index both gained a fraction at 1,957 and 1,121 respectively.IFAonline
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