Spreadex Market Update
European and Asian markets also drift lower
US stock futures are indicating another lower open with shares extending a drop after their worst week in eight. European and Asian markets also drifted lower this morning amid pro-democracy protests in Hong Kong took its toll on the markets. Protesters continued to demonstrate, in a view to persuade the city’s top official to step down. Banking stocks led the declines, sending the FTSE over 30 points lower to 6620. Standard chartered and HSBC holdings took the brunt of the falls, both trading over 2 percent lower.
Data released today showed that British mortgage approvals slipped to a three-month low in august, falling slightly more than expected. With signs that the housing market has cooled in recent month, sterling drifted lower on the news. The dollar strengthened against other major currencies ahead of data from the US which is scheduled to show Pending Home Sales decreased by -0.4%.
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