FTSE 100 preview: Index seen steady after upbeat leads

Vodafone in focus amid whistleblower warning

FTSE 100 preview: Index seen steady after upbeat leads

The UK benchmark index looks to start the session marginally higher, following upbeat leads in the US and Asia, with investors digesting the latest developments between the US and China. Vodafone (LON:VOD) will be in focus today as a whistleblower warned about security breaches.

FTSE 100 seen marginally higher

IG’s opening calls suggest that the FTSE 100 will open 0.03 percent higher at 7,558 points. In the US, shares rose last night, amid hopes for a resolution of the trade spat between the US and China.

"This move in the market, I think, is almost entirely related to China," said Randy Frederick, vice president of trading and derivatives at the Schwab Centre for Financial Research, as quoted by CNBC. "I know it's not resolved but the fact that they are talking is enough for the market to go up." Asian shares have been mostly higher this morning, tracking the US higher.

In the UK, the FTSE 100 rose in the previous session, gaining 58.51 points to close 0.78 percent higher at 7,556.38, as it benefitted from a recovery in the mining sector.

Friday’s statements

Today’s macroeconomic statements include the eurozone’s consumer price index (CPI) for July, scheduled to be released at 10:00 BST, to be followed by Canada’s CPI for July at 13:30 BST. The Michigan conference index for August will be announced at 15:00 BST.

With the earnings season winding down, there are no blue-chip companies scheduled to update investors on their performance this morning. In other news, the BBC reports that staff at Vodafone call centres have allegedly broken the rules about security checks and left customers vulnerable to fraud, according to a whistleblower. RBS (LON:RBS) meanwhile continues its search for a new financial officer.

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