4th Sep 2013 13:30
LONDON (Alliance News) - The FTSE 100 and FTSE 250 were lower Wednesday as airline stocks were hit by a profit warning by Ryanair and stock markets around the world became more cautious as reports emerged that support was growing in congress to back President Obama's call for a strike on Syria, meaning military action could be moving closer.
Ahead of the US open, the FTSE 100 is trading down 0.6% and the FTSE 250 down 0.65%.
Small caps continue to perform better, with the AIM All-Share recording a new high for 2013, at 761.4.
US pre-market trading is pointing to a mixed open for the New York markets, with only the tech heavy Nasdaq indicating a slightly higher open while the Dow and S&P wait nervously for updates from Obama or Congress on military strikes on Syria.
Speaking from Stockholm as he heads to a G20 meeting that starts later, President Obama said he is convinced the Syrian government deployed chemical weapons.
Russian President Vladimir Putin also hinted for the first time that Moscow might back a UN resolution for military intervention in Syria.
Trade balance numbers from the US, released ahead of the market open, show the deficit expanded 13.3% in July to USD39.1 billion, against a forecast of USD38.6 billion.
The Fed Beige Book at 1900 BST will give the FOMC guidance on current economic conditions ahead of its next meeting.
By Jon Darby; [email protected]; @jondarby100
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