FTSE Starts the Day Lower, Set for First Monthly Fall of 2019 - Forex News by FX Leaders

FTSE Starts the Day Lower, Set for First Monthly Fall of 2019

Posted Friday, May 31, 2019 by
Arslan Butt • 1 min read

At the start of the European trading session on Friday, FTSE was down by nearly 1% over news reports of US President’s latest announcement of tariffs on Mexico. In addition, weaker than expected Chinese PMI data also added to the risk-off sentiment in global markets.

FTSE 100 lost 0.8% while the FTSE 250 was down by about 0.9% just before trading commenced. In addition, it looks like both of them are set for their first monthly falls so far in 2019, losing 3.5% and 4.5% respectively in May.

Leading oil stocks also suffered losses on account of ongoing uncertainty of the trade war’s impact on global oil demand. To add to the bleak market sentiment, Nationwide reported a slowdown in growth of British house prices in May to 0.6%.

At the time of writing, FTSE is trading at around 7155.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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