FTSE 100 preview: Downbeat trend set to persist

on Feb 9, 2016

The FTSE 100 started the week on a negative footing, closing yesterday’s session 158.70 points lower at 5,689.36, as investors weighed economic data from China and Germany, coupled with another oil market slump. The negative trend is set to continue today, with the blue-chip index expected to open 17 points lower at 5,672.

First Choice and Thomson owner Tui (LON:TUI) reveals its first-quarter results today after a tough time for tour operators in the wake of terrorist attacks in Paris and Tunisia. Broker Deutsche Bank, which expects revenue growth of three percent, was quoted as saying: “The impact should be mitigated to some extent by higher uptake of holidays in other regions, especially in Western Europe.”
Investors will also eye several economic data releases today. In the UK, the British Retail Consortium will update investors on the sector´s total sales in the month of January, alongside fresh data from the Office for National Statistics on the UK´s trade deficit for December. Meanwhile, in Germany the country´s statistics office is expected to announce that industrial production grew 0.5 percent month-on-month in December. In the US, the National Federation of Independent Businesses´ optimism index for January was set for release, alongside the Fed´s JOLTS index on hob openings in the US labour market in December. Data on US wholesale inventories for the month of December were also set to be published.

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