FTSE 100 preview: Index seen subdued ahead of company releases

Investors eye BP’s earnings

FTSE 100 preview: Index seen subdued ahead of company releases

The UK benchmark index looks set to open lower this morning, following a downbeat lead from the US, and ahead of a batch of company results. Investors have a lot to look forward to on the corporate front today, with the earnings season continuing with oil major BP (LON:BP).

Index seen lower

IG’s opening calls suggest that the FTSE 100 will start the session 0.04 percent lower at 7,698 points. In the US, tech shares were sold off last night, led lower by Facebook and Netflix. Asian shares meanwhile have tracked the US lower this morning.

“US equities took another leg lower overnight but sentiment towards risk looks more upbeat across other asset classes,” analysts at JP Morgan said in a note, as quoted by Reuters. The Bank of Japan meanwhile kept its monetary policy steady, in line with expectations.

At home, the Footsie closed little changed in the previous session, giving up 0.46 percent to end trading 0.01 percent lower at 7,700.85, with investors digesting company news and amid caution ahead of central bank meetings this week.

Tuesday’s agenda

Today’s macroeconomic statements include German unemployment data for July, due out at 08:55 BST, to be followed by a string of releases for the eurozone, including the region’s July’s flash consumer price index, employment numbers for June, and a flash second-quarter gross domestic product estimate, all due out at 10:00 BST. In the US, the nation’s personal income and spending numbers for June will be announced at 13:30 BST, to be followed by Chicago’s purchasing managers’ index for July at 14:45 BST and Conference Board consumer confidence data for July at 15:00 BST.

In company updates, BP is expected to post a surge in profits when it updates investors on its second-quarter performance this morning. Other blue-chips reporting today include Standard Chartered (LON:STAN), Centrica (LON:CNA), Shire (LON:SHP), Taylor Wimpey (LON:TW), Travis Perkins (LON:TPK) and Fresnillo (LON:FRES).

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