Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

FTSE 100 expected to start the week on the back foot

Published 30/01/2023, 06:59
Updated 30/01/2023, 07:10
© Reuters.  FTSE 100 expected to start the week on the back foot

© Reuters. FTSE 100 expected to start the week on the back foot

Proactive Investors - FTSE 100 expected to start the week on the back foot as investors look ahead to interest rate calls in the US, UK and Europe later this week alongside a bumper batch of earnings updates.

Spread betting companies are calling the lead index down by around 40 points.

Michael Hewson chief market analyst at CMC Markets UK commented: “The strong start to 2023 appears to have given way to a little bit of caution for markets in Europe as we look to this week’s trifecta of central bank meetings, and what sort of outlook is painted by the Federal Reserve, ECB and Bank of England, and more importantly how many more rate hikes can we expect to see after next week.”

“This caution looks set to translate into a lower open for markets in Europe this morning ahead of Q4 German GDP numbers which are expected to show the economy in Germany ground to a halt.”

In the US on Friday the major US indexes all finished off a busy week of earnings in positive territory.

At the close, the Dow had gained 0.1% to close at 33,978, the S&P 500 increased 0.3% at 4,071 and the Nasdaq was up 1% on the day at 11,622 to cap off a great week for the tech-laden index.

Elsewhere, housebuilders will be in focus on reports the government is close to agreeing a multi-billion pound deal with the sector to help resolve the cladding crisis exposed by the 2017 Grenfell Tower disaster.

On the corporate front a trading update from Computacenter PLC (LON:CCC) is due.

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.