The FTSE 100 looks set to start today’s session little changed, with investors awaiting the outcome of the Federal Reserve’s latest policy meeting. Unilever (LON:ULVR) will be in focus today as it stepped up its charm offensive in an effort to assuage investor concerns over its plans to scrap its London headquarters.
Footsie seen little changed
IG’s opening calls suggest that the blue-chip index will open 0.04 percent higher at 7,510 points. In the US, shares fell last night, after President Donald Trump said at the United Nations General Assembly that the US ‘will no longer tolerate abuse’ on trade, as reported by CNBC. Asian shares meanwhile have advanced this morning despite the ongoing trade war fears.
In the UK, the FTSE 100 rose in the previous session, gaining 49.15 points to close 0.66 percent higher at 7,507.56. Next (LON:NXT) was the session’s biggest riser in percentage terms, climbing 7.69 percent to 5,518.00p as it hiked its full-year guidance.
There are no major macroeconomic releases out of Europe to guide the market further this morning. In the US, the Fed rate decision will be announced at 19:00 BST, after the London market closes, followed by a press conference at 19:30 BST.
“The focus will be on whether the Fed will indicate its tightening is coming to an end,” Akira Takei, bond fund manager at Asset Management One, commented, as quoted by Reuters. “The Fed may not do so today but I expect markets will soon start looking to that scenario.”
In company news, City A.M. reports that Unilever has organised meetings with the most vocal opponents of its plans to scrap its dual-headed structure and remain based in the Netherlands.