FTSE 100 slides but remains above 7,400 level
The blue-chip index was dragged lower by a stronger pound, after YouGov poll shows Tories commanding a strong lead, though the Footsie managed to stay above the 7,400 support level.
![FTSE 100](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/news-article-image-folder/bg_trader_359480658.jpg.jpg/jcr:content/renditions/original-size.webp)
The FTSE 100 fell below 7,400 in early trading after sterling rallied following a poll that showed the Conservative Party had a strong lead ahead of the General Election on December 12.
The blue-chip index slid to 7,390, driven lower by a stronger pound and several ex-dividend stocks taking their toll. However, the FTSE 100 rebounded back above the 7,400 support level later in the session.
Looking to trade the FTSE 100 and other major indices? Open a live or demo account with IG.
GBP/EUR hits six-month high after poll shows Tory’s leading
The pound hit a six-month high against the euro early on Thursday, trading at 1.1757.
Sterling’s gains were driven by a recent poll that showed the Tories had a commanding lead heading into the General Election
The YouGov poll, released on Wednesday night, predicted the Tories would secure a majority of 359, representing 41 seat increase on the 318 seats they secured in the last election back in 2017.
Trump endorses Hong Kong protestors, hurting trade relations
The FTSE 100 was also weighed down by US President Donald Trump’s endorsement of Hong Kong protestors, with his actions threatening to derail progress in trade talks with Beijing.
Trump signed two congressional bills overnight, with one calling for Hong Kong’s special trade status with the US to be reviewed each year by the State Department, while the other banned the export of crowd-control munitions like rubber bullets and tear gas to police in Hong Kong.
‘I signed these bills out of respect for President Xi, China, and the people of Hong Kong,’ Trump said in a statement.
‘They are being enacted in the hope that Leaders and Representatives of China and Hong Kong will be able to amicably settle their differences leading to long term peace and prosperity for all.’
Officials in China reacted negatively to the news, telling US Ambassador Terry Branstad on Thursday that the backing Hong Kong protestors represents a ‘severe interference’ in China’s affairs.
You can go long or short the FTSE 100 with IG using derivatives like CFDs.
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
![](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/Rebrand/Article_banners/Shares-global-component-banner.jpg/jcr:content/renditions/original-size.webp)
Act on stock opportunities today
Go long or short on thousands of international stocks with CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.