FTSE Weak on North Korean Tensions

The FTSE 100 got off to a weak start this morning, as investors remained concerned about the ongoing tensions in North Korea. The UK’s leading index fell by 25 points, down to 7, 347, after having slipped by 38 points on Tuesday.

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shareprices.com - Wednesday, September 06, 2017

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Concerns about the economic situation in North Korea have left investors nervous, if not quite scared. The fear is that the situation could drag on for quite some time, and this is making investors nervous about starting a fresh round of buying. The lack of corporate news updates has not helped the situation, failing to give investors anything to distract themselves from the nuclear threat.

Shares in Sports Direct International climbed by three percent, in the run up to the statement from the AGM, where it is expected that there will be confirmation that the efforts to revamp stores has paid off with the company trading ahead of expectations.

Housebuilders are losing steam. Yesterday’s wave of optimism has come to an end, and while brokers expect another strong year for Barratt developments, the company lost 3.53 percent during early trading. Another casualty this morning was Ryanair Holdings, who shed one percent as it announced that it would be tightening its carry-on baggage terms to allow passengers just one free carry-on. The company is also cutting its carry-on fee from EUR35 to EUR25, and it anticipates that the changes will cost it 50 million euros in reduced checked bag fees, even account for the increase in checked bags from the new limits.

 

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