FTSE preview: Index forecast for a confident start

FTSE preview: Index forecast for a confident start
Written by:
Alison Bishop
29th August 2018

The UK benchmark index looks set to continue its positive start this morning with renewed investor confidence, aided by the trade agreement between the US and Mexico.

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IG’s Opening calls predict the UK benchmark index will open this morning on a +0.33 per cent rise with the benchmark index set at 7642p. The Footsie closed on Monday with a significant gain of 0.52 per cent, achieving a final total of 7617.22 (a rise of 39.73).

European Investors not as confident

European markets did not match the positive close experienced by the FTSE with the DAX (INDEXDB) closing on a loss of -10.89%  at 12,527.52.  EUROSTOXX 50 (INDEXSTOXX: SX5E) also posted a negative close, with a final value of 3,447.78 (down 0.24%). However, the CAC 40 (INDEXEUROCORE) finished the day with a gain of 5.89 to 5,484.99 (up 0.11%)

Today's Calendar

There are no scheduled FTSE 100 announcements today. Nationwide is set to announce its house Price Index with expectations of growth in the market continuing, albeit slowing down. In the US, a preliminary GDP annouancement at 13.30 is scheduled.

Meanwhile, significant gains were made yesterday, prompted by a preliminary deal between the US and Mexico which led to strong rises for the metal industry, with Evraz Plc (LON:EVR) gaining 5.37 per centm closing at 518.00 points and Anglo America (LON:AAL) gaining 3.57 per cent to close at 3948.00 points. 



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