FTSE 100 to backtrack as PM heads to Brussels to try and break Brexit deadlock

The FTSE 100 is expected to backtrack on Tuesday after five days on the front foot but as Brexit talks hit another wall. London’s blue chip share index was being called 22 points lower ahead of the open on the IG spread-betting platform, having added five points at the start of the week to reach 6,555.39. Overnight, Wall Street had a mixed session as stimulus talks resumed on in Congress. The Dow Jones dropped 0.5% to 30,069.79 and the S&P 500 slipped 0.2% but the tech-fuelled Nasdaq Composite climbed 0.45%. Brexit talks are in focus around the world, with the UK and EU appearing to be heading down a road to no deal ahead of the final, final deadline this month. Prime Minister Boris Johnson put out a statement to say that he will travel to Brussels for a last-ditch showdown today or tomorrow with Ursula Von Der Leyen, the President of the EU Commission, in order to try and resolve “significant differences” still remaining on three critical issues: level playing field, governance and fisheries. The pound, which has risen in the past fortnight, came under pressure as a result of the toing and froing, before recovering most of its lost ground after the Downing Street announcement. “For all the bluster coming from either side it is in neither side's interest to run the clock down to a no deal outcome, however given the current state of play, that option remains a very real possibility,” said market analyst Michael Hewson at CMC Markets. “EU officials insisted that the deadline for any deal to be agreed was Wednesday, however as with all things EU this could well slip too.” Around the markets The pound: down 0.1% to US$1.3361 Oil: Brent crude down 0.6% to US$48.48 per barrel Gold: up 0.2% at US$1,868.40 6.45 am: Early Markets: Asia / Australia Asia-Pacific markets were lower today as investors remained cautious over rising COVID-19 cases and uncertainty over Brexit talks between the UK and the European Union. The health-care arm of Chinese e-commerce giant JD.com made its trading debut in Hong Kong and saw its share price surge 34% from its offer price at open. Chinese mainland shares fell with the Shanghai composite 0.09% lower and in Hong Kong, the Hang Seng index dropped 0.61%. Japan’s Nikkei 225 dipped 0.30% while South Korea’s Kospi declined 1.53%. Australia’s benchmark ASX 200 reversed its early losses to close 0.19% higher. READ OUR ASX REPORT HERE Proactive Australia news: engage:BDR Ltd (ASX:EN1) has closed its share purchase plan (SPP) on Monday, December 7, after receiving strong support with applications exceeding the target of $1 million. Venture Minerals Limited (ASX:VMS) (OTCMKTS:VTMLF) has high hopes for its Golden Grove North Project in WA after confirming the potential for a large volcanic massive sulphide (VMS) body in maiden drilling at the Orcus prospect, according to managing director Andrew Radonjic. Chalice Mining Ltd (ASX:CHN) (OTCMKTS:CGMLF) (FRA:C8U) is offering shareholders the opportunity to subscribe for new shares under a share purchase plan (SPP) to raise A$10 million. Northern Minerals Ltd (ASX:NTU) (FRA:NUN) is encouraged by strong price gains since the beginning of 2020 in the primary payable heavy rare earth elements from its Browns Range Project in WA as well as the future market outlook. Andromeda Metals Ltd (ASX:ADN) welcomes reverse circulation drilling results of up to 31 metres at 3.06 g/t gold at Clarke prospect within the Wudinna Gold Joint Venture Project with Cobra Resources PLC (LON:COBR) on the Eyre Peninsula of South Australia. Nanoveu Limited (ASX:NVU) has entered into a 12-month exclusive agreement with Touch Guard Pty Ltd for the distribution of Nanoveu’s antiviral products, including Nanoshield products, in the Australian and New Zealand markets. VIP Gloves Ltd (ASX:VIP) has approved a new dividend policy for the company whereby an annual dividend payout ratio of between 20% and 40% of earnings before significant items, subject to the company's financial position, will be determined. Yandal Resources Ltd (ASX:YRL) is encouraged by positive initial metallurgical test-work on primary samples from Gordons Dam prospect with results confirming high gold recoveries of up to 97.53% using conventional gravity and cyanide leach techniques.