he FTSE 100 was set to jump today after yesterday’s bizarre stumble which saw tech companies suddenly slide in what some traders were calling a “flash crash”.
In fact, the sharp fall was more of a flash wobble than a crash, triggered by a late morning slide in Wall Street futures – which indicate how the US markets are going to perform.
The futures market proved right, tech markets fell in the US and Europe followed suit, with the FTSE ending down 0.7%, or 46 points.
Today should be all-change, with markets pricing in a decent bounceback to wipe out most of that fall. The FTSE 100 will jump 43 points to 6957 if traders on the IG platform were right. With 68% of them betting before the market opened that it could go higher than that, it promised to be a day of healthy gains.
That could see a switchback into tech-led and lockdown stocks like home delivery giants Ocado and AO World, which both fell sharply yesterday.
Barclays shares will be in focus as it tries to convince investors it is right to be bumping up the amount of cash it sets aside to pay big bonuses to staff. Last…
