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FTSE 100 called slightly lower after surprise rate rise in Canada
Published Jun 08, 2023 07:38
FTSE 100 called slightly lower after surprise rate rise in Canada
Proactive Investors - The FTSE 100 is expected edge lower after a mixed showing in the US after the surprise rate increase by the Bank of Canada.
Spread betting companies are calling London’s lead index down by 8 points.
Canada's central bank, which had been expected to leave the overnight rate unchanged for the third meeting in-a-row, lifted the benchmark rate by 25 basis points to 4.75% from 4.50%. It did not pencil in more hikes to come, however.
In New York, the Dow Jones Industrial Average closed up 91.74 points, 0.3%, at 33,665.02. The S&P 500 fell 16.33 points, or 0.4%, at 4,267.52 and the Nasdaq Composite slipped 171.52 points, or 1.3%, at 13,104.90.
In Asia, the Nikkei 225 fell 1.2%, despite better-than-expected growth numbers. In China, the Shanghai Composite was 0.7% higher, while the Hang Seng index in Hong Kong was up 0.4%.
Back in London, and the early focus will be updates from Crest Nicholson (LON:CRST), FirstGroup PLC (LON:FGP), M&G (LON:MNG), Mitie (LON:MTO) and Wizz Air (LON:WIZZ).
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