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FTSE 100 preview: The UK benchmark index destined for yet another low start

Following a lukewarm response to the government’s first technical papers on a “No Deal” Brexit, the ripples of low confidence amongst investors in the majority of European sectors appears to have had an impact on the FTSE Index values. 

All week low

IG’s Opening calls predict the UK benchmark index will open this morning on its fifth consecutive loss at 7559, down 0.5 per cent. The Footsie closed yesterday having experienced a loss of 0.15 per cent, achieving a final total of 7563.22 points.

DAX leads Europe In market losses

These concerns have led to almost every European market closing on a loss, with the DAX eclipsing all losses and dropping 20.12 (0.16%) to a value of 12365.58. In comparison the CAC 40 (PX1) made relatively minor losses, falling 0.02 per cent with the final value being 5419.33 (-1.28).

Watchdog Investigating Merger between ASDA and Sainsbury’s

A focus of today will be the potential impact of the news that competition watchdog – Competition and Markets Authority (CMA) – is to investigate the proposed £12bn merger between ASDA and Sainsbury’s (LON:SBRY). Sainsbury’s has experienced a small increase in value over the last week, but ended yesterday down 1.00 (0.29%) to a value of 340.50p. Concerns surround the possibility that this will lead to both price increases and quality losses for the consumer, but also a squeezing of suppliers.

British Bankers Association (BBA) and Commitment of Traders are the major reports due out of the UK today
The BBA is scheduled to release its mortgage approval data for July 2018 today. With the housing sector having experienced serious levels of success this week, the report will be eagerly awaited by investors.

Meanwhile, the mining sector experienced confusing results in yesterday’s trading, with  Anglo-American (LON:AAL) and Fresnillo (LON:FRES) being the  biggest losers with losses of 2.6 percent and 2.4, respectively. Despite this, EVRAZ PLC (LON:EVR) was yesterday’s biggest riser, gaining 1.62% and closing the trading day on 487.80 (+7.80).















About the author

Alison Bishop
Alison is our leading cryptocurrency ICO reporter, boasting a technical development background and over 6 years working with blockchain technology.

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