Economy

FTSE ends down as shares hit by US-North Korea tensions

FTSE ends down as shares hit by US-North Korea tensions”

Despite geo-political tensions driving heavy falls across global markets this week, stock traders for both the US S&P500 and London's FTSE index don't appear to be expecting another sell-off, with futures markets little changed ahead of tonight's session.

"European shares are trading once again lower. continuing their slide on the back of ever more increasing tensions between North Korea and the United States", added analyst Markus Huber at City of London Markets. "It also saw the VIX post its 8th biggest spike in history, regaining levels last seen around the USA presidential election, and resulted in fresh preference for bonds and gold over equities and metals, and added to an already weak oil price". Japan markets are closed for the Mountain Day holiday. Spot gold traded traded as high as Dollars 1,288.92 an ounce on Friday, compared to levels around the USD 1257 mark earlier this week.

South Korea's KOSPI index fell throughout the day and a short time ago was down by 1.7%, capping four straight days of losses as the regional tensions with its northern neighbour weigh on the market. Shares in Glencore, Rio Tinto and Anglo American were all down by between 2.8% and 3.1%. Chipmaker Infineon dropped 1.1% in Frankfurt and luxury fashion retailer Kering slid 1.7% in Paris.

The Stoxx Europe 600 SXXP, -0.56% fell 0.3% to 378.56, led by losses in the industrial group.

In the eurozone, the Paris CAC 40 dropped nearly 0.7 per cent to 5,081.92 points compared with the closing level on Thursday.



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