FTSE 100 preview: Index seen steady in the wake of US jobs report

The UK benchmark index looks set to open marginally higher this morning, following mixed leads form the US and Asia as investors digested the non-farm payrolls report on Friday. British Airways parent International Consolidated Airlines Group (LON:IAG) will be in focus as the company’s chief executive signalled that no-deal Brexit would not impact passenger numbers.

FTSE 100 seen little changed

IG’s opening calls suggest that the Footsie will start trading 0.04 percent higher at 7,023 points. In the US, shares were mixed on Friday following the non-farm payrolls report which surpassed expectations for new jobs but included a downward revision for December’s report.

“There were definitely some gives and takes here with this report,” said Bill Northey, senior investment director at US Bank Wealth Management, as quoted by CNBC. “Regardless of your perspective, there was something to find in it.” Asian shares meanwhile have advanced this morning.

At home, the Footsie ended the first day of February on an upbeat note, adding 51.37 points to close 0.74 percent higher at 7,020.22, and building on the previous sessions’ gains, as investors digested the US jobs report.

Monday’s agenda

Today’s macroeconomic statements include the UK’s construction purchasing managers’ index for January, due out at 09:30 GMT. On the other side of the Atlantic, the US retail sales, housing starts, building permits and durable goods orders for December will be all announced at 13:30 GMT.

In company news, Reuters reports that IAG’s chief executive Willie Walsh has said that a no-deal Brexit would not deter passengers from flying and that he remains confident that an aviation agreement between Britain and the European Union would be reached. There are no FTSE 100 company reports due out this morning.