The UK benchmark index looks set to open marginally lower in today’s session, with investors focusing on news related to the ongoing Brexit process. Royal Bank of Scotland Group (LON:RBS) will be in focus today amid the latest developments related to a report on its controversial restructuring division.
Muted start ahead
IG’s opening calls suggest that the Footsie will start the session 0.04 percent lower at 7,336 points. Brexit will be in focus today after both sides failed to agree upon the terms of the UK leaving the EU yesterday. CNBC meanwhile quoted European Commission President Jean-Claude Juncker as saying that while British Prime Minister Theresa May was a ‘tough negotiator’, that did not mean that talks were failing.
In the US, shares found support in the tax bill passed over the weekend, while Asian equities have been subdued this morning, pressured by a decline in the tech sector.
At home, the Footsie rose yesterday, buoyed by the US tax reform progress. The blue-chip index added 38.48 points to end the session 0.53 percent higher at 7,338.97 points.
Today’s macroeconomic calendar includes the UK’s services purchasing managers’ index (PMI) for November, due out at 09:30 GMT and IG reports that the index is forecast to have climbed to 55.9 from 55.6. In the US, the nation’s trade balance for October is scheduled to be released at 13:30 GMT, followed by the ISM non-manufacturing PMI for November at 15:00 GMT.
This session’s company releases meanwhile include traffic statistics by easyJet (LON:EZJ) and British Airways parent International Consolidated Airlines Group (LON:IAG). In other news, The Times reports that the Financial Conduct Authority had decided not to publish a highly critical investigation into RBS’ systematic mishandling of thousands of small and medium-sized companies because it feared being sued for ‘unfair treatment’ by the bank.