FTSE dips with midterms still in the balance

The red wave promised overnight turned out to be more of a pinkish swell with the result of crucial midterm elections still in the balance as trading began in the UK on Wednesday morning.

AJ Bell investment director Russ Mould said:  “Amid the uncertainty the FTSE 100 was modestly lower. A continuing slide in oil prices, as initial excitement about a reopening of the Chinese economy has waned, helping to put energy stocks under continued pressure.

“What might have greater impact on markets than the latest political ructions across the Atlantic are the inflation figures due out in the US tomorrow as traders play their usual game of trying to guess when the Fed might finally pivot away from rate rises.”