FTSE 100 expected to open slightly lower on Remembrance Day

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The FTSE 100 is expected to start Wednesday’s session slightly lower as investors look set to take a pause on Remembrance Day.

Spread-better IG expects the FTSE 100 to open down around 4 points after ending Tuesday’s session 110 points higher at 6,296.

After some strong upward surges following Monday’s vaccine news, stocks in London now look set to hold back as investors now shift focus back to the ongoing economic effects of the pandemic as the second wave of infections ravages several countries.

Expectations of a slower start follow a mixed performance for US equities overnight as traders in New York began to rotate away from tech firms and towards value stocks again following Monday’s vaccine news.

The Dow Jones Industrial Average closed 0.9% higher at 29,420 while the S&P 500 fell 0.14% to 3,545 and the Nasdaq sank 1.37% to 11,553.

It was a more positive session in Asia on Wednesday morning, with Japan’s Nikkei 225 rising 1.67% while Hong Kong’s Hang Seng was up 0.2% on more optimism for a coronavirus vaccine.

On currency markets, the pound was down 0.14% against the dollar at US$1.325 on Wednesday morning, its highest level since September as Brexit negotiations continue.

Around the markets:

Sterling: US$1.325, down 0.14%

Brent crude: US$44.06 a barrel, up 1%

Gold: US$1,881 an ounce, up 0.2%

Bitcoin: US$15,398, up 0.6%

6.45 am: Early Markets: Asia / Australia

Stocks in Asia-Pacific were mixed today as Alibaba set a new sales record for the annual Singles Day shopping event.

Total sales surpassed 372.3 billion yuan (US$56.42 billion) as of 12:30 am Beijing time on Wednesday.

However, Chinese stocks fell with the Shanghai Composite down 0.35% while Hong Kong’s Hang Sen index gained 0.19%.

In Japan, the Nikkei 225 surged 1.78% and in South Korea, the Kospi added 1.31%.

Australia’s S&P/ASX 200 surged 1.72% as consumer confidence in Australia rose to its highest level in seven years with consumers buoyed by falling COVID-19 infections and the re-opening of Victoria.

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Proactive Australia news:

Firefinch Limited (ASX:FFX) has become a gold producer after completing the acquisition of an 80% interest in the Morila Gold Mine in Mali.

Auroch Minerals Ltd (ASX:AOU) has hit massive nickel sulphides in its first diamond hole drilled at the Horn prospect within the Leinster Nickel Project in Western Australia.

King River Resources Ltd (ASX:KRR) has successfully trialled its new high purity alumina (HPA) process route using alternative aluminum chemical feedstocks.

American Rare Earths Ltd (ASX:ARR) has established a first JORC-compliant resource estimate of 128.2 million tonnes at 373.4 ppm total rare earth elements (TREE) at La Paz Rare Earth Project in Arizona, USA.

Auteco Minerals Ltd (ASX:AUT) has received strong drilling results which highlight the potential to increase the 1-million-ounce inferred resource at its Pickle Crow Gold Project in Ontario, Canada.

Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) will partner with SGS Canada Inc to complete a pilot-scale spodumene concentrator test-work program using a bulk sample collected from the Piedmont Lithium Project in North Carolina.

Bellevue Gold Ltd’s (ASX:BGL) recent infill drilling at the Deacon and Bellevue North lodes has increased the indicated resource at its flagship gold project in Western Australia by 20% to 1.04 million ounces of gold at 11.4 g/t.

Red River Resources Ltd (ASX:RVR) (FRA:R1R) is higher after sampling and mapping at Orient Silver Project near Herberton defined an extensive high-grade silver-indium system at the Orient project near Herberton in northern Queensland.

European Lithium Limited (ASX:EUR) (FRA:PF8) (VIE:ELI) is preparing to hit the ground running at a newly granted tenement in Australia’s hottest gold region in Western Australia’s northwest.

Matador Mining Ltd’s (ASX:MZZ) drilling continues to expand the mineralised footprints at its Cape Ray Gold Project in Newfoundland, in Canada, with the Angus discovery mineralised area expanding by at least 120,000 square metres.

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