Global markets fell ahead of the Easter break as investors lose faith in President Donald Trump’s plans to kick start the US economy.
The FTSE 100 Index was 38 points lower in 7311.1 in afternoon trading, as the Trump Bump that has buoyed markets since his shock election victory in November runs out of steam. The FTSE 250 lifted 17.3 points to 19441.2.
Overnight markets in Hong Kong and Tokyo closed lower, while bourses in Paris and Frankfurt were down, as traders doubt the president will be able to push through major tax cuts and a $1trn infrastructure spending programme.
“A major interview last night marked a remarkable turnaround in a host of issues, including China, Nato and economic policy,” said IG chief market analyst Chris Beauchamp. “Markets are continuing to unwind the rally that has dominated in stocks since November.”
The biggest afternoon risers in the FTSE 100 Index were Mediclinic International (+22.5p to 759p), Associated British Foods (+75p to 2690p), Sage Group (+13p to 663p), Fresnillo (+28p to 1644p) and Micro Focus International (+41p to 2517p).
The biggest afternoon fallers in the FTSE 100 Index were Standard Life (-12.4p to 365.2p), HSBC Holdings (-11.9p to 643.4p), Ashtead Group (-27p to 1651p), Royal Bank of Scotland (-3.6p to 227.8p) and CRH (-41p to 2702p).
The biggest afternoon risers in the FTSE 250 Index were Acacia Mining (+34.6p to 504p), Centamin (+9.6p to 191p), Pets at Home (+8.7p to 187.3p), Nostrum Oil & Gas (+15p to 480p) and SSP Group (+11.3p to 449.4p).
The biggest afternoon fallers in the FTSE 250 Index were AO World (-5.6p to 137.60p), esure Group (-8.2p to 239.7p), PayPoint (-31p to 1057p), Savills (-24.5p to 924.5p) and Bodycote (-19.5p to 817p). – IBTimes