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FTSE 100 preview: Index seen steady after US gains

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The FTSE 100 looks set to open higher this morning, tracking the US higher, with investors hoping that the trade tensions between Washington and Beijing are losing steam. ITV (LON:ITV) will be in focus today amid reports that it is in talks with partners over a British streaming service.

Index looking up

IG’s opening calls suggest that the FTSE 100 will start trading 0.09 percent higher at 7,338 points this Thursday. The blue-chip index is likely to take cues from the US where shares rose last night amid hopes that a trade war between the US and China might not be as bad as feared.

“Trade tariffs will remain a major concern not only to corporations but to market participants and especially to those professional investors who have never experienced a trade war outside of what they learned in college,” said Robert Pavlik, chief investment strategist at SlateStone Wealth, as quoted by CNBC. Asian shares have tracked the US market higher this morning.

In the UK, the Footsie rose in the previous session, adding 30.89 points to close 0.42 percent higher at 7,331.12, as investors digested the latest developments between the US and China.

Thursday’s releases

Today’s macroeconomic statements include UK retail sales for August, due out at 09:30 BST. IG reports that sales are expected to have climbed 0.2 percent month-on-month and 2.7 percent year-on-year, from 0.7 percent and 3.5 percent, respectively. Eurozone consumer confidence data for September and US existing home sales for August will be announced at 15:00 BST.

There are no blue-chip companies, whose shares will be trading without the attraction of their latest dividend in today’s session. In other news, The Times reports that ITV is in talks with potential partners for its planned British streaming service and hopes to agree an outline deal over the coming months.

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