Proactive Investors - 7.00am: FTSE 100 seen slightly lower
FTSE 100 set to open slightly lower despite gains in US markets after the release of the FOMC minutes was viewed positively.
Spread betting companies are calling the lead index down by around 7 points.
The minutes from the Fed's November policy meeting showed "A substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate.”
They noted that a slower pace would better allow the Federal Open Market Committee to "assess progress toward its goals of maximum employment and price stability".
Michael Hewson chief market analyst at CMC Markets UK said: “Last night’s Fed minutes reaffirmed the initial market reaction to the Fed statement earlier this month with most officials backing the slowing of the pace of hikes soon, with several officials seeing risks from further rapid hikes.”
“This tone reinforces the narrative that 50bps is coming in December with subsequent hikes likely to be between 25bps and 50bps.”
But he added: “Last night’s positive US finish doesn’t look as if it will give markets here in Europe a significant early leg up, with the FTSE100 feeling the drag from further weakness in oil prices on the back of rising covid cases in China, however trading is quite likely to be light in the absence of the US for the Thanksgiving break.
In London, trading updates and results are due from Intertek Group PLC (LSE:LON:ITRK), Kingfisher PLC (LSE:LON:KGF), Safestore Holdings (LSE:SAFE) PLC, Dr Martens PLC (LSE:DOCS) and Motorpoint PLC amongst others.