FTSE Opens Down, Investor Gloom Continues

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shares opened down, taking their cue from the investor gloom affecting the US markets, with the falling back -1.00% and the down -0.66%. Goldman Sachs (NYSE:) lowered its fourth-quarter US growth forecast by 20 basis points to 1.8%.

European trading was also down over concerns about a possible return to political instability affecting the economy, after Italy’s deputy prime minister Matteo Salvini called for a general election. The FTSE MIB, was particularly affected (-2.48%), with the FTSE relatively insulated (-0.44%), on poor trade data but helped by a weakened .

Russian cheer

Top of the FTSE benchmark is Roman Abramovich’s steel company EVRAZ (LON:), with its shares up 2.06%, after announcing solid interim results to end-June supported by positive trends in their key product markets, including the recovery of construction activity in Russia. Antofagasta (LON:) was up 1.71%, after a strong quarter featuring a jump in production and falling costs. Rolls Royce (LON:) was down -2.51%, due to significantly high cash outflow, as it battles to fix its new Trent engine.

Asian shares opened the week on a positive note after a difficult week, led by the on 0.99%, the Sensex on 0.68% and the on 0.44%.

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