The FBI’s reopened investigation into Hilary Clinton’s use of a private e-mail server has certainly spooked markets as the new week’s trading session gets underway.
By Tony Cross, Monk Communications
Losses in London are broad-based although at least for now there are no signs of any panic selling. We’ve also got some encouraging corporate news lending a degree of support with better than expected growth from WPP driving the share price higher and eclipsing the slowdown that is being reported in the domestic market. IAG is also another notable riser, building on Friday’s gains despite concerns over the impact of Brexit and the competitive advantage that will be lost when Heathrow builds a third runway.
UK mortgage approvals data is due for release later this morning and could provide some fresh direction for the house building sector, whilst consumer borrowing numbers will also be under scrutiny amidst concerns that low borrowing costs risk creating another credit bubble despite the uncertainties held by Brexit.
The key story to watch however will remain the US Presidential election – there’s just one week left in campaigning and now there are suggestions circulating that the FBI may itself have broken the law in making this move so late in the game. Given the dislike held by markets for uncertainty, it seems amazing that we’ve had so much resilience so far.
