FTSE 100 to crack 6,400 on back of Draghi factor
Yesterday’s hints of further QE in the EU should drive the FTSE 100 higher this morning
London is expected to continue to draw comfort from comments yesterday by European Central Bank (ECB) governor Mario Draghi.
The decision by the ECB to leave interest rates unchanged was widely expected, and the market focused on Draghi’s press conference comments, which suggested the bank’s policy makers were prepared to adopt a more accommodative stance in terms of its securities repurchase programme.
Spread betting quotes point to the FTSE 100 just about breaking through the 6,400 barrier after closing at 6,376 last night.
US markets had a spectacular day on Thursday, helped by Draghi’s comments and some helpful economic data.
The benchmark Dow Jones Industrial Index added 321 points to close at 17,489, while the Nasdaq Composite added 80 points at 4,920. The broader-based S&P 500 rose 34 points to finish at 2,052.
With Asian markets approaching the close of trading, the Nikkei 225 in Japan was up 2.2% at 19,848 and the Hang Seng in Hong Kong was up 1.2% at 23,122.
Back in Blighty, attention will be focused on trading updates from bookie William Hill (LON:WMH) and pharmaceuticals giant Shire (LON:SHP).
Source: Proactive Investors – FTSE 100 to crack 6,400 on back of Draghi factor
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