FTSE 100 preview: Index seen steady as Brexit voting looms

The FTSE 100 looks set to open higher this morning, recouping some of the previous session’s losses, ahead of another parliament voting on Brexit. Unilever (LON:ULVR) will be in focus today as it snapped up US cleaning products company The Laundress.

Index seen steady

IG’s opening calls suggest that the Footsie will start trading 0.39 percent higher at 6,774 points. The blue-chip index is likely to shrug off a downbeat lead from the US where shares retreated last night with corporate reports disappointing investors. Asian shares have also been subdued this morning as the US Department of Justice filed criminal charges to request the extradition of Meng Wanzhou,  the chief financial officer of Chinese telecommunications giant Huawei.

Brexit will stay firmly in focus with UK lawmakers set to vote in an effort to break the Brexit deadlock. Reuters notes that it is not a rerun of the January 15 vote on whether to approve Theresa May’s Brexit deal but rather, a chance to discover what sort of changes would be required to win the support of parliament, so the prime minister can try to renegotiate the agreement in Brussels.

In the UK, the FTSE 100 posted a hefty fall yesterday, giving up 62.12 points to close 0.91 percent lower at 6,747.10, pressured by downbeat data out of China as well as the ongoing Brexit uncertainty.

Tuesday’s agenda

There are no major macroeconomic releases out of Europe this morning to guide the market further. In FTSE 100 company updates, Hargreaves Lansdown (LON:HL) is scheduled to post results this morning. In midcaps, Royal Mail Group (LON:RMG) will update investors on its nine-month performance. In other company news, Reuters reports that Unilever has acquired The Laundress, a New York-based line of detergent and cleaning products, as it aims to expand its reach in high-end home care products.