FTSE 100 preview: Index seen little changed after downbeat leads

Investors eye Burberry’s results

FTSE 100 preview: Index seen little changed after downbeat leads

The FTSE 100 looks set to start today’s session little changed following downbeat leads from the US and Asia. In company news, the earnings season is set to continue with Burberry’s (LON:BRBY) results.

FTSE 100 seen flat

IG’s opening calls suggest that the UK benchmark index will start the session 0.01 percent higher at 7,724 points. In the US, stocks fell last night as investors digested results and retail sales data.

“The consumer being alive and well is a positive, but just after eight days of being higher, the market’s looking for a reason” to pull back, said Art Hogan, chief market strategist at B. Riley FBR, as quoted by CNBC. In Asia, shares have pulled back this morning after Pyongyang called off talks with Seoul, fuelling worries about the upcoming US-North Korean summit.

“The broader risk for the region if talks do break down is that Trump no longer feels the need to keep China on side and could escalate trade tensions again,” JPMorgan analysts wrote in a note, as quoted by Reuters.

In the UK, the Footsie added 12 points to end the session 0.16 percent higher, as investors digested the latest batch of corporate results. A 4.26-percent fall in Vodafone (LON:VOD) pegged back the index after the telco announced that its chief executive Vittorio Colao would step down later this year.

Wednesday’s releases

Today’s calendar includes the eurozone’s final consumer price index for April, due out at 10:00 BST, while in the US, the nation’s housing starts and building permits for April will be announced at 13:30 BST. On the corporate front, Burberry is due to update investors on its performance after announcing that it had agreed a deal to acquire a luxury leather-goods business.

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