FTSE 100 live outlook prediction analysis for 21st April 2021
Tobacco firms dragged on the FTSE 100, which wiped out all of last week’s gains as it plunged 140.21 points, the highest single day fall since Feb 26, to below the level of 7,000 that it breached last week for the first time in over a year. It joined a global stock market rout to end the day at 6,859.87, while the FTSE 250 lost 382.31 points to close at 22,108.55.
Equity losses came despite sterling ending the day down 0.3pc against its European and US counterparts, to €1.1586 and $1.395 respectively. The pound had earlier touched a six-week high on a weak US dollar, before reversing course to stand lower.
US & Asia Overnight from Bloomberg
Asian stocks tumbled and U.S. futures declined Wednesday as rising virus cases around the world led to renewed concern about their economic impact. Treasuries held overnight gains.
An MSCI Inc. gauge of Asia-Pacific shares was on track for its biggest drop in four weeks with Japan and Hong Kong leading. Nasdaq 100 futures underperformed. S&P 500 contracts fell after the benchmark dropped for a second day, extending its slide from an all-time high, with investors showing caution ahead of the brunt of the earnings season. Treasuries held a rally that sent the 10-year yield to its lowest level in more than five weeks. The dollar edged higher. Oil prices retreated.
After rising to record highs, stocks find themselves under pressure from a renewed surge in Covid-19 case around the world, raising the prospect of new lockdowns and hampering the economic recovery. Tokyo and Osaka will ask the Japanese government to declare a state of emergency. Glitches with vaccine rollouts are also raising concerns about the pace of reopenings.
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