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FTSE 100 Live: FTSE seen edging lower as central bankers back more rate hikes

Published 29/06/2023, 07:49
© Reuters.  FTSE 100 Live: FTSE seen edging lower as central bankers back more rate hikes

Proactive Investors - London’s blue chips are expected to edge lower at the open on Thursday following hawkish comments from a number of leading central bankers at a conference in Portugal.

Spread betting companies are calling the FTSE 100 down by around 5 points. The index closed 39.03 points higher, or 0.5%, at 7,500.49 on Wednesday.

US stocks were mixed Wednesday after the chair of the Federal Reserve warned that interest rates may need to rise further to curb inflation.

At a closely watched conference in Sintra, Portugal, Jerome Powell said "although policy is restrictive, it may not be restrictive enough and it has not been restrictive for long enough."

The Dow Jones Industrial Average fell 74.08 points, or 0.2%, at 33,852.66. The S&P 500 shed just 1.55 points, at 4,377.86, though the Nasdaq Composite rose 36.08 points, or 0.3%, at 13,591.75.

Asian markets were also mixed. In Tokyo, the Nikkei 225 index was up 0.1%. In China, the Shanghai Composite was flat, while the Hang Seng index in Hong Kong fell 1.3%.

Back in London and the early focus will be provided by updates from B&M, De La Rue (LON:DLAR), Moonpig, R&Q and Serco.

Read more on Proactive Investors UK

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