FTSE 100 preview: Index seen little changed as G-20 summit looms

Tesco and VW planning free car charging points

FTSE 100 preview: Index seen little changed as G-20 summit looms

The UK benchmark index looks set to open little changed on the last day of November, with investors eyeing the G-20 summit scheduled to start later today. Tesco (LON:TSCO) will be in focus today amid reports that it is partnering up with VW to provide free charging points.

Muted start ahead

IG’s opening calls suggest that the Footsie will start trading 0.01 percent higher at 7,040 points. Focus will be on the G-20 summit where US President Donald Trump is set to meet  China’s President Xi Jinping amid strained trade relations between Washington and Beijing.

In the US, stocks closed lower last night, with investors mulling over the US-China trade tensions. Asian stocks, however, have shrugged off the downbeat US lead and are trading higher this morning.

“Markets have been choppy this morning amid varying views on the prospect of any sort of trade deal this weekend between Trump and Xi at the G20,” David de Garis, director of economics and markets at the National Australia Bank, wrote in a morning note, as quoted by CNBC.

In the UK, the FTSE 100 rose in the previous session, gaining 34.43 points to end trading 0.49 percent higher at 7,038.95, as investors digested comments from the Federal Reserve chair and the results from the Bank of England’s latest stress test.

Friday’s agenda

Today’s macroeconomic releases include the eurozone’s unemployment rate for October and flash inflation data for November, due out at 10:00 GMT. On the other side of the Atlantic, Canada’s third-quarter gross domestic product will be announced at 13:30 GMT, to be followed by the Chicago purchasing managers’ index for November at 14:45 GMT.

In company developments, Sky News reports that Volkswagen and Tesco have announced a joint venture to create, what they say, will be the country’s largest network of free charging points at the retailer’s biggest stores.

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