The UK benchmark index looks set to open in the red this morning, pressured by a fall in oil. Barclays (LON:BARC) will be in focus over the latest developments related to chief executive Jes Staley’s attempts to uncover a whistleblower.
Downbeat start ahead
IG’s opening calls suggest that the Footsie will start the session 0.16 percent lower at 7,403 points. The blue-chip index is likely to take cues from the US, where energy shares were sold off amid a decline in crude prices. GE meanwhile continued its downtrend after slashing its payout to shareholders and unveiling a restructuring plan. Asian shares meanwhile have tracked the US lower this morning.
“The decline by U.S. equities led by energy shares is having a knock-on effect, dampening sentiment in sectors related to energy and industry,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management, as quoted by Reuters. “Broadly speaking equities had enjoyed an almost uninterrupted run for the past few months, so we are seeing a bit of a correction finally emerging.”
The FTSE 100 ended the previous session little changed, shedding 0.76 points to close 0.01 percent later at 7,414.42, with a drop in blue-chip miners offsetting gains in Vodafone (LON:VOD) and Tesco (LON:TSCO).
Today’s macroeconomic releases include UK unemployment data due out at 09:30 GMT. In the US, the nation’s consumer price index and retail sales for October are scheduled to be released at 13:30 GMT. On the corporate front, Experian (LON:EXPN) is scheduled to post results this morning. In other news, The Times reports that an American body which specialises in cybercrime had allegedly asked the US Postal Service to help to identify a whistleblower at Barclays.