FTSE 100 Index Trading Forecast for September 30
Last week there was a marked and steady decline observed in the FTSE 100 index from a high on Monday of 6,803.00 to a low of 6,620.80 on Friday before closing at 6,649.39. This week it sunk even lower to 6,612.50 on Monday before recovering to back above the 6,640 level.
The market has been falling as investors remain cautious about a slowdown in growth across Europe. Data released at the end of last week showed that the Gfk German consumer climate index dropped to 8.3 this month, down from 8.6 in August. The market was also hit by losses in the mining sector.
There is not much positive news expected out of London, or the rest of Europe in the coming days, so it seems likely that index will continue to fall but it is unlikely that it will drop below the 6,600 level.