FTSE 100 preview: Index seen lower as Asia heads south

Lloyds will sell its remaining shares in Standard Life Aberdeen

FTSE 100 preview: Index seen lower as Asia heads south

The FTSE 100 looks set to start the last trading day of the week on the back foot, following a downbeat lead from Asia. On the corporate front, Lloyds Banking Group (LON:LLOY) has announced that it is selling its remaining shares in Standard Life Aberdeen (LON:SLA), representing about 3.3 percent of the blue-chip asset manger’s issued share capital.

Index to open lower

CNBC reports that Britain’s blue-chip index is set to start trading 25 points in the red at 7,685. The Footsie is likely to take cues from Asia where shares have retreated this morning with risk sentiment fizzling out. In the US, shares were mixed last night, with the tech sector sending the NASDAQ lower following strong performance earlier in the week.

“Uncertainly ahead of the weekend’s G7 meeting led to a downturn in risk appetite throughout the US session,” said Nick Twidale, analyst at Racketing Securities Australia, as quoted by Reuters.

In the UK, the FTSE 100 closed little changed yesterday, shedding 7.97 points to end the session 0.10 percent lower at 7,704.40.

Friday’s releases

Today’s macroeconomic statements include Germany’s trade balance for April at 07:00 BST, to be followed by Canada’s unemployment rate for May at 13:30 BST. No blue-chips are scheduled to update investors on their performance this morning.

In other news, Lloyds is selling its remaining shares in Standard Life Aberdeen after moving to pull £109 billion of assets from the group earlier this year. Reuters meanwhile reports that Whitbread (LON:WTB) is open to selling its Costa coffee chain or Premier Inn hotels and abandoning its original plan to spin-off the coffee business, according to a new executive pay scheme circulated to shareholders.

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