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FTSE 100 fails to open

London Stock Exchange

Toby Melville | Reuters

London’s FTSE 100 index failed to open at the start of the European trading on Friday.

The London Stock Exchange (LSE) is investigating a potential trading services issue, according to an official statement on the LSE website.

The LSE said it expected to update the market at 0915 London time as the issue continues. 

Futures had indicated a higher open for the FTSE on Friday.

“One of those things that are not that infrequent, first since June 2018 for FTSE100; if there are any sharp moves elsewhere then it might prompt the odd spikey move when it does open, but that is just a function of sorting out imbalances,” Marc Ostwald, global strategist and chief economist at ADM Investor Services International told CNBC via email on Friday.

FTSE 100, U.K.’s blue-chip index, hit a six-month low on Thursday as an escalating trade war between the United States and China and growing concerns about the world economy saw global stocks in sell-off mode.

The index is down more than 6.7 percent over a 30-day period but is still up more than 5 percent since the start of the year.

The Financial Times Stock Exchange 100 index, or also called the FTSE 100 index, includes the 100 LSE-listed companies listed with the highest market capitalization. The total market cap of FTSE 100 index is £1.89 trillion ($2.28 trillion) — more than double the market cap of Apple.

This story is developing. Please check back for details.

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