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  • Welcome to the FT Market Minute. Here's what we're watching in London on Thursday morning.

  • Well, after a bullish start to the week for stock markets following the relief of the French election, the mood is now more muted.

  • European bourses are lower after Wall Street pulled back from record levels

  • on what appeared to be a bit of sell on the news reaction to the Trump tax cut plans.

  • Of course, US tax cuts are one of the main reasons cited for the post-US election bull run,

  • and it seems traders want to see solid evidence that the White House can get its proposals passed before they get overly excited again.

  • Meanwhile, it's a very busy day for company results on both sides of the Atlantic,

  • with Google and Amazon arguably the highlight.

  • There's also a lot of central bank interest.

  • The ECB delivers its update around lunchtime in Europe,

  • but is expected to stand pat like its Japanese peer did earlier in the session.

  • Not the Riksbank though.

  • Sweden's central bank left rates alone, but surprised traders by extending its asset purchase programme.

  • The kroner is consequently falling half a percent.

  • But going the other direction are the loonie and the peso,

  • which are bouncing after the White House gave a stay of execution for NAFTA.

Welcome to the FT Market Minute. Here's what we're watching in London on Thursday morning.

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Bourses lower, Wall St pulls back | Market Minute

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    Colleen Jao posted on 2017/05/04
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