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The FTSE 100 is named 4 points higher at 7,032 as volatility persists.
Again, it is fears of rising energy prices, interruptions in the supply chain and worries about prolonged inflation that are triggering an exit from the higher valued areas of the stock market.
“European markets had a bad day yesterday, all down over 2% with the exception of the FTSE100, which was helped in no small part by its strong energy component, and a falling pound which helped keep it above the 7,000 level” said Michael Hewson of CMC Markets.
“The pound is also suffering from the completely self-inflicted fuel crisis, which has caused gas station forecourts to dry up, and concerns about an economic slowdown.”
“We have some UK lending data this morning and this should give us an idea of ​​whether UK consumers will start holding back spending with the latest August mortgage approvals and consumer credit data in the face of rising prices.”
6.50 a.m.: Early markets – Asia / Australia
Stocks in the Asia-Pacific region fell after an overnight slump on Wall Street on Wednesday as rising yields hit technology stocks.
The Nasdaq Composite slumped nearly 3% after ten-year US bond yields rose to 1.5375%.
China’s Shanghai Composite lost 1.55% while Hong Kong’s Hang Seng index lost 0.20%
In Japan, the Nikkei 225 lost 2.67% and the South Korean Kospi lost 1.74%.
The Australian S & P / ASX200 lost 1.5% to hit a four-month low of 7,159.60 after rising to 7,210 at open.
