FTSE 100 tipped to remain frozen in its tracks ahead of unemployment data

The FTSE 100 is set to remain almost frozen in its tracks on Tuesday morning after parliament voted through a bill that will break international law and ahead of UK unemployment figures later in the day. Continuing its close relationship to the 6,000 level that began in mid-May, London’s blue chip index is expected to retreat by just one point, according to spread betters on the IG platform. Overnight, Wall Street stocks continued to regain strength, following their big wobble in earlier in the month. The Dow Jones rose almost 328 points or 1.2% to 27,993.33, while the broader S&P 500 index gained 1.3% and the tech-fuelled Nasdaq Composite zoomed 1.9% higher. Asian stocks are mostly higher on Tuesday, apart from Tokyo’s Nikkei, which is down 0.5%. Looking at the UK, market analyst Michael Hewson at CMC Markets said: “Today’s latest economic data from the UK could well add further colour to the extent of the economic pain that the coronavirus pandemic has inflicted on the UK economy.  “If anything the data is almost a sideshow to the events taking place between politicians in Brussels and Westminster, as Prime Minister Johnson attempts to get his controversial Internal Market Bill past his own MPs at Westminster.” Last night’s vote saw the bill pass by 77 votes, but the bill is expected to face changes as it goes up to the House of Lords. Around the markets The pound was up 0.1% against the dollar at 1.2860 Oil was lower, with Brent crude down 0.2% at US$39.52 Gold gained 0.6% to US$1,968.47 6.45 am: Early Markets: Asia / Australia Stocks in Asia-Pacific were mostly positive after China released its economic data which showed retail sales rising 0.5% in August from a year ago — the first positive report for the year so far. Mainland Chinese stocks were higher, with the Shanghai composite rising 0.36% and Hong Kong’s Hang Seng index gaining 0.48%. South Korea’s Kospi was up 0.51% but Japanese stocks lagged with the Nikkei 225 slipping 0.56% In Australia, the S&P/ASX was 0.2% lower even as the Reserve Bank of Australia noted that “the downturn had not been as severe as earlier expected and a recovery was under way in most of Australia.” READ OUR ASX REPORT HERE Proactive Australia news: Bardoc Gold Ltd (ASX:BDC) (FRA:4SF) has begun a major new exploration campaign aimed at growing resources and unlocking new gold discoveries at its 100%-owned 3.02 million-ounce Bardoc Gold Project in Western Australia. Artemis Resources Ltd (ASX:ARV) (OTCMKTS:ARTTF) has completed a structured share sale program covering all of its 1.64 million shares in Novo Resources Corp (CVE:NVO) (OTCMKTS:NSRPF) with net proceeds of A$5.78 million. White Rock Minerals Ltd (ASX:WRM) has wound up its maiden exploration program at the Last Chance Gold Target in Alaska, accomplishing a strong foundation for future success and gaining a solid understanding of a gold system it describes as "enormous". Australian Strategic Materials Ltd (ASX:ASM) has produced another key permanent magnet metal, dysprosium, via its partner Ziron Technology Corporation at a laboratory at the Ziron Tech facility in Korea. Horizon Minerals Ltd (ASX:HRZ) has completed the sale of its 100% interest in the Nanadie Well Copper Project in Western Australia to Cyprium Metals Ltd (ASX:CYM). Black Rock Mining Ltd (ASX:BKT) has welcomed the publication of regulations by the Government of Tanzania concerning graphite concentrate exports which establishes a firm path to advance the Mahenge Graphite Project. Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) directors who collectively hold about 6.07% of the company’s shares have accepted the takeover offer from Shandong Gold Mining Meteoric Resources NL (ASX:MEI) has started reverse circulation (RC) drilling at Palms Springs Gold Project in the Kimberley region of Western Australia. Dotz Nano Ltd's (ASX:DTZ) largest shareholder, Southern Israel Bridging Fund (SIBF), has committed a further $1.75 million of growth funding to the company through the exercise of its options. Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is making good progress with its sustainable, high-purity ‘clean’ lithium strategy with Hazen Research Inc well advanced in producing initial larger samples of battery-quality lithium carbonate.