The FTSE 100 is not expected to rise again after the Easter weekend but begin the foreshortened week on the back foot.
London’s blue chip index was heading for a 34-point decline ahead of opening trades on Tuesday, according to the IG spread-betting platform.
Overnight, Wall Street, which did not benefit from the four-day weekend, bustled higher as the dollar fell and bond yields eased.
The Dow Jones climbed 1.1% to 33,527.19, while the S&P 500 rose 1.4% and the Nasdaq Composite jumped 1.7% as a strong manufacturing PMI survey yesterday combined with a reminder of Friday’s impressive non-farm payroll numbers.
“That was enough for the FOMO massive to click the buy buttons as fast as they could until their mouses blew up,” said market analyst Jeffrey Halley at Oanda.
With a quiet day ahead expected, Halley also highlighted how upward pressure could start to be imposed on gas prices from the situation in Ukraine, which he said has been somewhat ignored by markets and the world, with Russian and Belorussian armed forces massing on Ukraine’s Eastern border, spurring fears that more ‘peacekeepers’ may soon be on the ground.
“That will expose yet another strategic European Union and German strategic misstep, placing Europe’s energy security in the hands of an unreliable totalitarian state to the East (think Nord-Stream 2)…Boots on the ground in Ukraine will see oil and gas prices, something the EU could do without right now.”
6.50am: Early Markets – Asia / Australia
Stocks in the Asia-Pacific region were mixed on Tuesday after major indices on Wall Street surged to record closing highs overnight.
The Hang Seng index in Hong Kong surged 1.97% but the Shanghai Composite in China slipped 0.22%.
In Japan, the Nikkei 225 fell 1.25% while South Korea’s Kospi gained 0.23%.
Shares in Australia rose, with the S&P/ASX 200 lifting 0.93%.
Proactive Australia news:
Noxopharm Ltd (ASX:NOX) has filed a patent for its anti-cancer drug Veyonda® for use in the fight against septic shock, following compelling COVID-19 pre-clinical data.
Cipherpoint Ltd (ASX:CPT) has completed the 100% acquisition of Brace168 Pty Ltd, making the innovative IT and cybersecurity solutions business a subsidiary and integral part of Cipherpoint.
Peninsula Energy Ltd (ASX:PEN) (OTCMKTS:PENMF) (FRA:P1M) is predicting a net cash margin of between US$8-$9 million in 2022, as it stocks up on uranium concentrate to meet demand.
Metro Mining Ltd’s (ASX:MMI) updated bauxite reserves and resources support the company’s intention to maintain and expand production at the Bauxite Hills operations in Far North Queensland over many years.
Anson Resources Ltd (ASX:ASN) (FRA:9MY) has increased the exploration target at its Paradox Brine Project in the US after a review of historical drilling data confirmed a massive, supersaturated brine aquifer in the Mississippian Leadville Formation within the project claims at a depth of around 8,000 feet.
Cirralto Ltd (ASX:CRO) has loaned its long-term fintech partner Invigo $2 million as it seeks to extend strategic commercial funding programs and support the deployment of B2B buy-now-pay-later products.