FTSE 100 preview: Index seen little changed after rally

Lloyds in focus as MPs seek probe into Lloyds CEO over handling of HBOS fraud

FTSE 100 preview: Index seen little changed after rally

The FTSE 100 looks set to start Thursday’s session little changed, following the previous session’s rally. Lloyds Banking Group (LON:LLOY) will be in focus amid MP calls for a probe into the lender’s chief executive.

Index seen little changed

IG’s opening calls suggest that the Footsie will start the session 0.05 percent lower at 7,047 points. In the US, shares were mixed last night, while volumes were low ahead of Thanksgiving. Asian shares have also been mixed this morning.

"The majority of traders will be expecting relatively muted ranges throughout the day as we move into those Thanksgiving Holiday conditions," said Rakuten Securities Australia in a morning note, as quoted by CNBC, adding, however, that investors “will be prepared for what could be exacerbated moves if we do see any further news on the various geopolitical issues that are so influential in the market at the moment”.

At home, the Footsie rallied yesterday, gaining 102.31 points to close 1.47 percent higher at 7,050.23, finding support in banks and energy stocks.

“How far it goes is another matter, but signs of a possible end to the selling are beginning to pile up,” said IG chief market analyst Chris Beauchamp, as quoted by Reuters.

Thursday’s agenda

Macroeconomic releases are in short supply today, with the eurozone’s flash consumer confidence index for November due out at 15:00 GMT. US markets will be closed for Thanksgiving.

On the corporate front, investors will eye results from Centrica (LON:CNA) and Severn Trent (LON:SVT). In other news, Reuters reports that a senior lawmaker has demanded an investigation into the way the chief executive of Lloyds handled information related to the HBOS Reading fraud.

Blue-chips, whose shares are going ex-dividend today, include Carnival (LON:CCL), DCC (LON:DCC), Evraz (LON:EVR), Imperial Brands (LON:IMB), National Grid (LON:NG) and heavyweight Vodafone (LON:VOD). Reuters’ calculations suggest that ex-divs will knock 9.8 points off the FTSE 100.

Top Equities Brokers

0 Brokers added for comparison:
Clear all