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London pre-open: Stocks seen lower as investors return from Easter break

Market Reports

London pre-open: Stocks seen lower as investors return from Easter break

Tue, 18 April 2017
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London pre-open: Stocks seen lower as investors return from Easter break

(ShareCast News) - London stocks were set for a weaker start on Tuesday following the Easter break, with investors likely to exercise caution amid rising geopolitical tensions.
The FTSE 100 was expected to start 17 points lower at 7,310.

There are no major UK data releases due, but in the US, housing starts and building permits are at 1330 BST.

On the geopolitical front, rising tensions between the US and North Korea were likely to keep investors cautious.

In addition, market participants were eyeing a visit between US Vice President Mike Pence and Japanese Prime Minister Shinzo Abe on Tuesday.

During a visit to the demilitarized zone between North and South Korea on Monday, Pence said that "the era of strategic patience is over", adding that the US was seeking security "through peaceable means". Pence also spoke of a stronger US currency.

In corporate news, the owner of the Daily Mail newspaper has sold its US video sharing platform Elite Daily to Bustle Digital Group for an undisclosed sum.

The sale is part of Daily Mail & General Trust's strategy to concentrate its digital resources on MailOnline, particularly in the US using Snapchat Discover and on DailyMailTV, which will launch this autumn.

Ashmore Group returned to net inflows into its funds in the three months to the end of March as investors regained confidence in emerging markets.

Assets under management increased by $3.7bn during the third quarter, comprising positive investment performance of $2.3bn and net inflows of $1.4bn.

Exeter-based airline Flybe Group announced on Tuesday that its chief financial officer Philip de Klerk had resigned to take up the position of CFO at another unnamed company.

The London-listed firm said de Klerk would remain as CFO of Flybe until 1 October 2017.