UK's FTSE 100 fails to open due to 'technical problems'

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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.

“Can confirm there are technical problems affecting certain securities on the London Stock Exchange,” a spokesperson from the LSE told CNBC Friday. 

The spokesperson said it expected to update the market shortly.

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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