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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 5 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. | 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. | |
| "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. | "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. |
| "The problem is that no one knows for certain what Mr. Trump will do," investors at Janus Capital Group wrote in a note. | |
| 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. |
| 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. On Friday afternoon the dollar index, which measures the strength of the buck against a whole basket of other currencies, was little changed. It 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. | |
| Elsewhere major stock indexes across the US were broadly higher. | |