The UK benchmark index is looking to start the last trading day of the week little changed, following a lacklustre lead from Asia. Retailers will be in focus today which marks the annual Black Friday shopping holiday.
Muted start ahead
IG’s opening calls suggest that the FTSE 100 will start trading 0.09 percent higher at 6,967 points. With the US market was closed for Thanksgiving, there will be little to guide the market this Friday. In Asia, stocks have slipped amid worries over the trade relations between the US and China.
“Concerns over trade tensions continue to build up ahead of the meeting between Donald Trump and Xi Jinping that is to happen on the side-lines of the G-20 meeting next week,” said OCBC Treasury Research in a note, as quoted by CNBC.
The Footsie tumbled in the previous session, giving up 89.91 points to close 1.28 percent lower at 6,960.32, pressured by a strong pound, with investors digesting the latest Brexit developments. Centrica (LON:CNA) fell 9.23 percent as investors digested the group’s trading update, while Fresnillo (LON:FRES) tumbled 12.08 percent following downbeat analyst comments.
Investors have a lot to look out for on the corporate front today, with the November flash manufacturing and services purchasing managers indices (PMIs) for France, Germany and the eurozone due out between 08:15 GMT and 09:00 GMT. On the other side of the Atlantic, Canada’s consumer price index for October will be released at 13:30 GMT, to be followed by the flash US manufacturing and services PMI for November at 14:45 GMT.
In other news, Reuters reports that research firm GlobalData forecasts UK spending during the Black Friday period – which it defines as November 19 to November 26 – will grow 3.1 percent to £10.4 billion.