FTSE 100 struggles as traders wait for outcome of American election
On Tuesday, British shares struggled to find a footing, after a surge yesterday, as market participants prepared to hear the result of the closely watched American presidential election.
The FTSE 100 didn’t managed to grasp more than 0.09%, trading at 6,811.35, though it has been dropping in and out of positive territory. All sectors except financials and telecoms headed north.
Shares got becalmed as voting got underway in the American presidential election, that pits Democratic candidate Hillary Clinton against Republican counterpart Donald Trump. The first state results will come at 7 p.m. Eastern Time, although individual towns are already reporting.
On Monday, British shares soared 1.7% as part of a global leapt in equities after Clinton was cleared by the FBI once again in a fresh review of her email usage.
Somewhat predictably the financial markets have lost their appetite, perhaps due to the size of yesterday’s profits as well as the overall proximity of the American election.