We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/DBuSOfIhQY
  • US Dollar Forecast: USD/MYR Reversal as USD/PHP Tests 2013 Support #USD $USDMYR $USDPHP - https://www.dailyfx.com/forex/technical/article/special_report/2019/10/18/US-Dollar-Forecast-USDMYR-Reversal-as-USDPHP-Tests-2013-Support.html?CHID=9&QPID=917702 https://t.co/VfFPJhPX31
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/aqWMzoZRrk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.68%, while traders in France 40 are at opposite extremes with 80.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/CFFN6tgMXb
  • #GBPUSD Testing Five-Year Resistance: Breakout Ahead? https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2019/10/18/GBPUSD-Testing-Five-Year-Resistance-Breakout-Ahead.html
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.42% 🇦🇺AUD: 0.12% 🇯🇵JPY: 0.10% 🇪🇺EUR: 0.03% 🇨🇦CAD: 0.00% 🇬🇧GBP: -0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/i1K0L7cDfA
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.09% US 500: -0.13% France 40: -0.31% Germany 30: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ly8aOm0jV8
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/taFcP1Ge44
  • RT @markets: Reserve Bank watchers consider the options for Australian QE and how it would impact markets https://t.co/9gYZgZXeE5
  • The $USD may extend its climb versus the Indian Rupee, but can it overturn weakness against the Singapore Dollar? $USDIDR and $USDPHP attempt breaking above resistance once more. Get your market update from @ddubrovskyFX here: https://t.co/bCb8Ddcsa5 https://t.co/39mmYjC8Tb
FTSE 100 Analysis: Russian Sanctions and Large Cap Ex-Divs Drag on FTSE

FTSE 100 Analysis: Russian Sanctions and Large Cap Ex-Divs Drag on FTSE

2018-08-09 11:00:00
Justin McQueen, Analyst
Share:

FTSE 100 Analysis and News

  • Ex-Dividends from several heavyweight’s trim 39 points off the FTSE
  • Russian sanctions and soft earnings weigh on sentiment.

See our Q3 forecasts to learn what will drive FX the through the quarter.

FTSE 100 Drops as Heavyweights go Ex-Div

FTSE 100 is trading with losses of 0.6% this morning, shedding 48 points, with 39 points attributed to the plethora of large caps going ex-div. This includes, AstraZeneca, Barclays, BP, BT Group, Diageo, Direct Line, Fresnillo, GlaxoSmithKline, Informa, Royal Dutch Shell, Rio Tinto, Rentokil and Standard Chartered who will trade without entitlement to their latest dividend pay-out.

Russian Sanctions Spook Markets

Sentiment has also been dampened in the wake of the latest round of US sanctions on commodities giant Russia, in response to Russia using a nerve agent against former Russian spy Skripal. This in turn has weighed on major oil and mining stocks with BP and Shell among the biggest drags on the FTSE 100. Alongside this, earnings have also provided notable price fluctuations with TUI shares plunging over 9% after its quarterly results disappointed market participants.

FTSE 100 Sector Performance

FTSE 100 Analysis: Russian Sanctions and Large Cap Ex-Divs Drag on FTSE

FTSE 100 Price Chart: Daily Time Frame (July-August 2018)

FTSE 100 Analysis: Russian Sanctions and Large Cap Ex-Divs Drag on FTSE

Chart by IG

On the hourly timeframe, the FTSE 100 appears somewhat exhausted above 7750, having valued to make a push towards the 7800 level. Consequently, eyes are on the 7706 support level, in which a break will likely see losses exacerbated as the price falls towards the 7650-7700 value area.

KEY TRADING RESOURCES:

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.