FTSE 100 preview: Index to retreat ahead of eurozone data

on Oct 14, 2014
Updated: Oct 21, 2019

iNVEZZ.com, Tuesday, October 14: Britain’s blue-chip index is likely to start the day in negative territory, following mixed handovers from the US and Asia and ahead of economic data from the eurozone.

Today investors will be looking out for a quarterly update from SABMiller Plc (LON:SAB), with the world’s second-largest brewer expected to post an improvement in sales.
**Footsie to give up gains**
According to IG, the FTSE 100 index will open 16 points lower at 6350. US stocks fell yesterday for a third consecutive session amid ongoing concerns about global growth and fears over the spread of the Ebola virus. The US bond market was closed due to the Columbus Day holiday.

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Asian stocks were mixed this morning with Sydney and Shanghai gaining ground and the Nikkei posting a hefty drop.
“Pessimism is coming back into the market amid the slump in US equities,” Nader Naeimi, head of dynamic asset allocation at AMP Capital Investors Ltd, told Bloomberg. “It’s been a while since we had a gut-shaking correction in the US. It will take a while before the market can build a firmer base. There are a lot of worries about global growth.”

The Footsie closed 0.41 percent higher at 6,366.24 points yesterday, finding support in upbeat trade data from China, which lifted London-listed miners. Anglo American (LON:AAL), further boosted by a broker upgrade, was the top blue-chip riser closing 4.72 percent higher at 1,388.00p.
Traders have plenty of economic data to look forward to today, with the UK consumer price index (CPI) for September due out at 09:30 BST. IG reports that both the year-on-year and month-on-month figures are expected to have slipped further to 1.4 percent and 0.2 percent, respectively.

The October German ZEW economic sentiment index and August industrial production figures for the eurozone are scheduled to be released at 10:00 BST. Other eurozone data due out today include French, Italian and Spanish inflation figures for September.

**SABMiller, Burberry results in focus**
SABMiller, whose quarterly results are due out this morning, is forecast to report higher sales and earnings per share. ()
Burberry will update investors on its second-quarter and first-half performance with analysts expecting sales growth to have continued, albeit at a slower pace. ( )
Hargreaves Lansdown (LON:HL) is also scheduled to issue an interim management statement today. The Telegraph reports that analysts at Numis expect the company to have attracted more cash to its funds since last month when it revealed that it had added 144,000 customers and £6.4 billion in client assets in the last year.


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