The FTSE index sheds 12.36 points (-0.16%) as market bears take the reigns

Published: January 25 2023, 22:46 GMT+0

The FTSE index sheds 12.36 points (-0.16%) as market bears take the reigns

A quick look at today: the FTSE dipped as low as 7,710.78 before recovering some lost ground. However, the rebound failed to push the stock to where it started the session (7,757.36) with FTSE closing the day at 7,745.

While price action maintains a negative bias, United Kingdom Services PMI released yesterday at 09:30 UTC with a figure of 48, while the previous figure was 49.9. United Kingdom Composite PMI came out at 47.8, while a consensus of analysts was expecting 49.3. United Kingdom Manufacturing PMI released yesterday at 09:30 UTC with a figure of 46.7, while the previous figure was 45.3.

In the meantime, negative performances are also seen in other markets, after ending today's session at 7,490.4, ASX 200 lost 22.1 points and is trading around 7,468.3.

Positive performances can be seen by looking at other markets as KOSPI Composite Index went up by 1.39% today, and closed at 2,428.57. Hang Seng improves 1.82% today and closed at 21,651.

Furthermore, United Kingdom Labour Productivity is scheduled for tomorrow at 09:30 UTC.

The index has been trending positively for about a month. The FTSE has fallen back around 1.31% over the past 9 days, from a notable high of 7,860.

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