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FTSE 100 Drifts Lower on Elections and Brexit Uncertainty

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Written By: Senad Karaahmetovic

Oct 25, 2019, 09:41 BST 09:41

FTSE 100

Summary:

FTSE 100 has drifted lower today despite the pound slipping modestly as investors await to see the outcome of PM's third attempt to call general elections.

FTSE 100 has drifted 0.30% lower today despite the pound slipping modestly. Investors are nervously awaiting to see the outcome of Boris Johnson’s third attempt to call a general election as he tries to break the Brexit deadlock.

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Corporate earnings continue to bear market expectations. Both Barclays and WPP reported better-than-expected earnings, sending their shares higher.

All in all, FTSE 100 trades 0.3% lower today as it tests the broken descending trend line. The price action also broke above the 200 DMA at 7273 but it was ultimately rejected by 100 DMA and 100 WMA, both sitting around the 7330 handle.