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An FT poll of polls predicts Theresa May is on course for a landslide victory in the snap election called yesterday, giving Conservatives an 18-point lead over Labour in terms of total votes and forecasting a rise from her current working majority of 17 in the House of Commons.
The pound weakened 0.1 per cent against the dollar during Asia trading after climbing as much as 2.7 per cent to a six-month high of $1.2905 yesterday following Mrs May’s general election announcement. It is currently trading at $1.2833.
In Australia the S&P/ASX 200 slipped 0.5 per cent dragged by the real estate and energy sectors. Hong Kong’s Hang Seng index was off 0.6 per cent, while in China the Shanghai Composite fell 1.3 per cent and the Shenzhen Composite shed 1.5 per cent. Japan’s Topix index was up 0.2 per cent.
Futures tip the FTSE 100 to open 0.6 per cent lower, while the S&P 500 is tipped to open up 0.1 per cent when trading gets under way on Wall Street.
The corporate calendar for Wednesday starts with Remy Cointreau‘s annual turnover figures for 2016-2017 at 06.30 (all times London), followed at 07.00 by a second half trading update from Burberry, a first quarter trading statement from Bunzl and a first quarter operations review from Rio Tinto.
The eurozone is the focus of the economic calendar today:
- 10.00: Eurozone final consumer inflation
- 10.00: Eurozone trade balance