The FTSE 100 looks set to start today’s session higher this morning, building on yesterday’s gains, with investors focusing on the summit between US President Donald Trump and North Korean leader Kim Jong Un. Advertising giant WPP (LON:WPP) will return to focus today as it faces an US class action.
Index to open higher
IG’s opening calls suggest that the Footsie will start the session 0.18 percent higher at 7,751 points. Investor focus will be on the Trump-Kim summit, with Reuters reporting that the US President had said that it had gone “better than anybody could have expected”, and they would sign a document following talks on ways to end a nuclear standoff on the Korean peninsula.
In the US, stocks closed marginally higher last night, with investors digesting the outcome of the G7 summit over the weekend which saw President Trump back out of a joint communique. Asian shares meanwhile have advanced this morning, with investors monitoring the Trump-Kim summit.
At home, the Footsie started the week on the front food, adding 56.36 points to close 0.73 percent higher at 7,737.43, benefitting from a drop in the pound, with sterling retreating on the back of downbeat factory data.
In company news, The Times reports that an American law firm is investigating claims on behalf of WPP investors in the wake of the resignation of chief executive Sir Martin Sorrell for alleged ‘personal misconduct’.
Today’s macroeconomic data includes UK unemployment numbers, due out at 09:30 BST, to be followed by Germany’s economic sentiment ZEW index for June at 10:00 BST. On the other side of the Atlantic, the US consumer price index for May will be released at 13:30 BST.