FTSE 100 sags amid G-20 disappointment
On Monday, British stocks sagged, with financial markets completing the month’s last trading session, thus reacting to G-20’s gloomy conclusion.
The FTSE 100 decreased to 6,055.97, a 0.7% drop. The only exception was the lucky mining sector - it dared to rise. That definitely spoilt Friday’s 1.4% surge as well as last week’s revenue of 2.5%.
During February’s final trading, the blue-chips prominent benchmark traded -0.7%, demonstrating the fourth monthly decrease.
On Monday, traders got back to a recently discussed announcement from financial leaders of the G-20, released on Saturday, where they told excessive fluctuations as well as disorderly movements in exchange rates really threaten many economies, to say nothing of global financial stability. Additionally, the G-20 representatives stressed they would keep away from any competitive devaluations in their exchange rates.
It feels like the G-20’s recent statement has just muddied the waters without providing long-awaited clarity. That’s apparent policy makers seem to be in agreement they require acting in rather a coordinated way, but considering their reactions, the overall situation is still unclear.