The FTSE 100 looks set to start today’s session marginally higher following mostly positive leads from the US and Asia with investors focusing on more corporate updates. At home, Anglo-Dutch consumer goods giant Unilever (LON:ULVR) will post results this morning.
Index seen flat
CNBC reports that the Footsie is seen opening three points higher at 7,679, according to IG. In the US, shares rose last night, following better-than-expected earnings at Morgan Stanley.
“After what appeared to be a slow start for the bank earnings, it does appear that they are building back on the momentum they had when rates were starting to break out,” said Dan Deming, managing director at KKM Financial, as quoted by CNBC. In Asia, shares have been mixed this morning, with trade war worries weighing on sentiment.
“While strong U.S. corporate earnings certainly helped boost sentiments, but that’s not enough to push the stocks meaningfully higher from here,” said Yasuo Sakuma, chief investment officer at Libra Investments, as quoted by Reuters.
In the UK, the Footsie added 49.95 points to end the session 0.65 percent higher at 7,676.28, as investors digested corporate updates. Smiths Group (LON:SMIN) was the session’s biggest faller in percentage terms, giving up seven percent to close at 1,627.00p, as it flagged lower revenues from its Medical division.
Today’s macroeconomic statements included UK retail sales data for June, due out at 09:30 BST, and IG reports that sales are forecast to have climbed 2.4 percent year-on-year, from 3.9 percent, and 0.4 percent from 1.3 percent month-on-month. In the US, the Philadelphia Fed manufacturing index for July will be announced at 13:30 BST.
In company updates, Unilever will post results amid ongoing investor concerns about the group’s plans to scrap its London headquarters as it looks to establish a single corporate base.
There are no blue-chip companies, whose shares will be trading without the attraction of their latest dividend in today’s session.