FX.co ★ FTSE 100 Lacks Direction

The FTSE 100 remained relatively stable near the 8,830 level on Monday, reflecting a cautious sentiment among investors, mirroring trends across European markets. Market participants are keenly observing the ongoing US-China trade discussions in London, which are anticipated to be a preliminary move towards alleviating tensions between the two nations. Recent economic data from China indicated a more pronounced slowdown in exports than anticipated, coupled with a sharper-than-expected decline in imports. Weakness was pronounced in sectors such as defense and aerospace, as well as gold mining and utility stocks. WPP's stock dropped by 1.7% following the announcement of CEO Mark Read's resignation. In contrast, Alphawave experienced a significant increase of over 22% after announcing a £1.8 billion acquisition agreement with US-based Qualcomm.