The UK benchmark index looks set to open little changed this morning, following positive leads from the US and Asia. On the corporate front, investors will be eyeing results by Royal Mail Group (LON:RMG).
Footsie seen little changed
IG’s opening calls suggest that the FTSE 100 will start the session 0.03 percent higher at 7,737 points. In the US, shares rose last night, led higher by the retail sector on the back of Macy’s results. Terry Sandven, chief equity strategist at US Bank Wealth Management, told CNBC that the market's bias remained flat-to-higher, but it would be a choppier ride for investors with inflationary pressures having become ‘more prevalent’. Asian shares meanwhile have tracked the US higher this morning.
In the UK, the Footsie rose in the previous session, adding 11.22 points to close 0.15 percent higher to 7,734.20, with investors focusing on company news. Paddy Power Betfair (LON:PPB) was the session’s biggest riser in percentage terms, gaining 6.31 percent, after confirming tie-up talks with FanDuel.
There are no major macroeconomic releases out of Europe to guide the market this morning. On the other side of the Atlantic, the US consumer price index for April will be announced at 13:30 BST.
In company news, Royal Mail is due to post its full-year results ahead of a change at the top, with Moya Greene due to step down in September. Other blue-chips reporting today include British Land (LON:BLND), 3i (LON:III), Experian (LON:EXPN) and National Grid (LON:NG).
FTSE 100 companies, whose shares will be trading without the attraction of their latest dividend in today’s session, include HSBC (LON:HSBA), Intertek (LON:ITRK) and Tesco (LON:TSCO). Reuters’ calculations suggest that ex-divs will knock 6.77 points off the Footsie.