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FTSE 100 Index – An Overview Of Financial Events For October 17th, 2019

Michael Harris
  • October 17th, 08:28
  • Last Updated: October 23rd, 12:12

Statements regarding Brexit are pouring in every other hour making it difficult for the investors to decide their stance. Traders are seen construing the events as rising optimism one day and interpreting as false hopes the other. The soaring uncertainty is being perfectly mirrored in the FTSE 100 index today on October 17th, 2019. Thirty minutes into the market and it has already established a textbook zigzag pattern. The market opened at 7,167.95 level. Following an immediate hike to 7,173.51, it dropped back to 7,167.49 level. A new hike from this level brought it back up to 7,175.49 which was again followed by an almost immediate drop to 7,168.34 level. Footsie is currently trading at 7,198.72.

Economic Announcements For Thursday

The retail sales report for the United Kingdom is set to be released in moments from now, 09:30 GMT +1, that is likely to act as a market mover for today. Other than that, European council meeting, UK credit conditions, U.S industrial production, and U.S jobless claims are a few of the other economic announcements which should be of interest for the traders on October 17th, 2019. Owing to the financial importance of such data, the figures are expected to manifest themselves in the FTSE 100 index, as per the stocks analysts.

News Affecting Individual Stocks

In terms of the individual stocks, National Express Group, Domino’s Pizza, W H Smith, Money Supermarket Group, Rathbone Brothers, Unilever, and Rentokil Initial are among a few of the businesses which will be releasing their Q3 trading statements later today. BHP Group is also expected to announce its Q1 operational review on Thursday, while bi-annual results for Rank Group will also be declared in a few hours.

According to a recently held survey, the Brexit uncertainty has also led to the British companies to minimize expenditure on marketing in the third quarter. In the past seven years, it’s the first time that such costs have been curtailed.

Mr. Mark Carney, the current Governor for Bank of England (BoE), has highlighted that in an attempt to improve lending and support the economy, the BoE may have to cut the capital buffer to zero that it lays for banks. On the other hand, the chancellor of the Exchequer, Mr. Sajid Javid will be announcing the reforms for the next decade of the country’s economy on Thursday. For the first time in years, public investment is expected to be increased.

Eddie Stobart was reported stating on Wednesday that the second-largest shareholder of the Stobart Group, DBAY advisors, was given sufficient time to consider the haulage company takeover offer, but Mr. Andrew Tinkler, the former CEO of Stobart Group had relinquished interest in a buyout.

Ex-dividends BAE Systems, and Smith Group will trade on October 17th, 2019, irrespective of their recent dividend payout. The Reuters calculation has reported a 1.7 points trim off the Footsie, as a response.

About the author

Michael Harris
Michael Harris
I began trading in my early 20's at a local company and since then have combined my knowledge and love of content to become a news writer. I am passionate about bringing insightful articles to readers and hope to add some value to your portfolios!

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