The UK benchmark index looks set to open higher in London this morning, with investors likely to shrug off downbeat leads from the US and Asia. On the corporate front, BT Group (LON:BT.A) is said to have offered the top job to Worldpay’s (LON:WPG) outgoing co-chief executive.
Index looking up
IG’s opening calls suggest that the FTSE 100 will open 0.41 percent higher at 7,056 points this Friday. The blue-chip index is likely to start the session higher despite a negative lead from the US where shares fell sharply last night. CNBC reports that according to investors, the reasons for the decline included ongoing worries about the US-China trade war, rising interest rates and lingering concerns about possible overvalued tech stocks. Asian shares have also retreated this morning, with weak economic data out of China adding to investor woes.
“Markets continue to digest the combination of higher U.S. rates, ongoing trade tension and Chinese growth concerns,” analysts at ANZ said in a note, as quoted by Reuters.
In the UK, the Footsie fell in the previous session, giving up 27.61 points to close 0.39 percent lower at 7,026.99, as investors digested the ongoing Brexit talks and corporate earnings.
There are no major macroeconomic releases out of Europe to guide the market further this Friday. In the US, the nation’s existing home sales for September will be announced at 15:00 BST. On the corporate front, London Stock Exchange Group (LON:LSE) and Holiday Inn and Crowne Plaza owner InterContinental Hotels Group (LON:IHG) are due to post results this morning. In other news, Bloomberg reports, citing sources, that BT has asked outgoing Worldpay co-CEO Philip Jansen to lead the former telecoms monopoly.