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etvfutures.com October 18, 2017


FTSE 100 takes cover from war of words over South Korea

13 August 2017, 12:04 | Cesar Cruz

A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New York U.S

A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New York U.S

As of 12:20 BST, the FTSE 100 index had lost 83 points to stand 1.12 percent lower at 7,306.94, staying on track to post a near three-percent loss for the week.

Ongoing tensions between North Korea and the United States weighted on stock markets once again Friday. Germany's DAX fared better, trading only 0.2 percent lower at 11,989. Brent crude futures lost 0.8 percent to $51.5 per barrel on persistent oversupply worries despite a bigger-than-expected drawdown in US crude inventories.

On Thursday, U.S. President Donald Trump said his earlier threat to unleash "fire and fury" on North Korea "maybe wasn't tough enough".

The reclusive state raised the stakes further on Thursday with a detailed plan to send a salvo of missiles towards the U.S. territory of Guam.

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The escalation of the rhetoric between the U.S. and North Korea is keeping market participants on their toes and with no fresh economic reports the price action is dictated by the headlines.

The Labour Department said that its Consumer Price Index inched up 0.1% last month, pointing to subdued inflation which could make Federal Reserve policy makers cautious regarding another interest rate hike in 2017. "Should we see another dip in inflation in July, it could make the job of building a consensus for another rate hike this year more hard". South Korea's KOSPI was down 1.7 percent and Hong Kong's Hang Seng 1.8 percent. Its rouble-based peer MICEX shed 1.2 percent to 1,937 points, its lowest since August 1.

OIL: Benchmark U.S. crude lost 24 cents to $48.37 per barrel on the on the New York Mercantile Exchange while Brent crude, used to price global oils, declined 20 cents to $51.70 per barrel in London. Anglo American (LON:AAL) is now leading other blue-chip miners lower, having shed 4.22 percent to 1,223.50p.



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