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| Global financial markets on edge ahead of Donald Trump's presidential inauguration | Global financial markets on edge ahead of Donald Trump's presidential inauguration |
| (about 2 hours later) | |
| London’s FTSE 100 stock index was little changed on Friday, putting it on track for its worst week since November, ahead of Donald Trump’s inauguration as 45th president of the US. | |
| The index of blue chip shares oscillated between slim gains and marginal losses in morning trading while shares across the rest of Europe inched marginally lower with investors on edge. | |
| "Trump’s promise of a major fiscal stimulus plan has come as a welcome respite from the monetary policy led days gone by. Yet, with expectations come the chance of disappointment, and the future of the US stock market seems hugely dependent on Trump delivering on his promises," said Josh Mahony, analyst at trading company IG. | |
| Shares tend to be considered a relatively risky asset to hold during times of market uncertainty, with investors preferring to snap up top-rated government bonds, currencies considered particularly stable – like the Swiss franc – and gold. | Shares tend to be considered a relatively risky asset to hold during times of market uncertainty, with investors preferring to snap up top-rated government bonds, currencies considered particularly stable – like the Swiss franc – and gold. |
| “Donald Trump's inauguration today marks the start of what promises to be a fascinating ride with a wide range of outcomes,” says Jim Reid, the head of global fundamental credit strategy at Deutsche Bank | “Donald Trump's inauguration today marks the start of what promises to be a fascinating ride with a wide range of outcomes,” says Jim Reid, the head of global fundamental credit strategy at Deutsche Bank |
| The US election, broadly considered the most divisive in history, sent markets roiling — both before and after the result was announced and Mr Trump has continued to buffet stocks and the dollar with comments and tweets since. | The US election, broadly considered the most divisive in history, sent markets roiling — both before and after the result was announced and Mr Trump has continued to buffet stocks and the dollar with comments and tweets since. |
| The dollar slipped slipped slightly overnight into Friday after US Federal Reserve Chair Janet Yellen spoke of a gradual pace of rate hikes and sounded less hawkish than some had expected. | |
| The dollar index, which measures the strength of the buck against a whole basket of other currencies, had risen sharply on Thursday, spurred by some strong jobs and housing data. Figures also showed that the number of Americans filing for unemployment benefits also dropped unexpectedly to near the lowest levels in decades. | The dollar index, which measures the strength of the buck against a whole basket of other currencies, had risen sharply on Thursday, spurred by some strong jobs and housing data. Figures also showed that the number of Americans filing for unemployment benefits also dropped unexpectedly to near the lowest levels in decades. |
| Back in the UK, Royal Mail was the biggest faller on the UK stock market, with shares recently down over 2.5 per cent after the company on Thursday posted mixed results for the crucial festive period. Packaging company Smurfit Kappa was the biggest gainer. |