The FTSE 100 looks set to start the new week little changed, with Asian shares slipping this morning on the back of worries over the ongoing US-China trade tensions. In company developments, The Sunday Times reports that Unilever’s (LON:ULVR) bosses will this week face investors for the first time since the failed attempt to move the consumer goods giant’s headquarters from London to Rotterdam.
Index seen little changed
IG’s opening calls suggest that the UK benchmark index will start trading 0.02 percent higher at 6,997 points. In Asia, shares have slipped amid worries about the impact of a US-China trade war.
“Some people say markets drew comfort from China’s exports data. But to me it seems so obvious the numbers were inflated by front-loading ahead of the introduction of tariffs,” said Norihiro Fujito, chief investment analyst at Mitsubishi UFJ Morgan Stanley Securities, as quoted by Reuters. In the US, shares rose in a volatile session on Friday, while posting losses for the week.
Wasif Latif, head of global multi-assets at USAA, told CNBC that investors should remain cautious in the near term.
“It’s too early to tell if we’re out of the woods yet,” he pointed out. “We have to wait and see how the market reacts in the next few days.”
In the UK, the Footsie fell marginally lower on Friday, giving up 11.02 points to close 0.16 percent lower at 6,995.91.
There are no major macroeconomic releases out of Europe this morning to guide the market further. In the US, the nation’s Empire state manufacturing index for October and retail sales for September are due out at 13:30 BST. On the corporate front, investors will an update by Schroders (LON:SDR).