FTSE falls as North Korea details strike plan

Rufina Vignone
Agosto 12, 2017

The FTSE 100 firm announced in March past year that it would run its US-based asset management operation, its UK-based wealth unit, an emerging markets division and Nedbank in South Africa as separate businesses. There was renewed nervousness in France after a vehicle rammed a group of soldiers in a suspected terrorist attack. Other safe havens were the Swiss franc and gold.

The FTSE 100 fell by more than 100 points as global investors continued to act on North Korea-related jitters.

The pan-European STOXX 600 fell 0.7 per cent, taking its weekly losses to 2.4 percent, its worst since early November previous year.

"Trump has upped the ante so the market is having to price in possible military intervention", said Jasper Lawler, head of research, at London Capital Group, in a note.

"We're through most of the earnings season and the valuations [in the stock market] become a bit problematic when you have something like North Korea come up", said Maris Ogg, president at Tower Bridge Advisors, as quoted by CNBC.

Traders reacted with dismay to his fresh warning Thursday that his earlier threat to unleash "fire and fury" on the reclusive nuclear-armed state may not have been "tough enough".

Back in the United Kingdom, in an interview with the Evening Standard the Monetary Policy Committee's Michael Saunders said Brexit would likely crimp the United Kingdom economy over the longer-term.

On the economic calendar for Friday, US consumer price data for July are expected at 1330 BST, followed by speeches from the presidents of the Federal Reserve banks of NY and Minneapolis at 1440 BST and 1630 BST, respectively.

Concern in the markets was a shift from the general upswing in stocks during the Trump administration. Despite that, its net asset value per share decreased from 228.6p to 220.1p.

On the second tier, Domino's Pizza dropped 8.3p to 272p after the takeaway firm inked a partnership with its London franchise business.

Anglo-South African financial services company Old Mutual was down 1.2 percent on Friday despite announcing that it intends to list two divisions in 2018.

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