🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

FTSE 100 Live: Stocks called flat as Middle East tensions continue

Published 23/10/2023, 06:59
FTSE 100 Live: Stocks called flat as Middle East tensions continue
UK100
-

Proactive Investors - The FTSE 100 is expected to make a muted start as events in the Middle East continue to spark nerves and ahead of earnings from some of the leading names of the business world.

Spread betting companies are calling London’s lead index little changed after closing down 97.39 points at 7,402.14 on Friday.

Overnight, Israel said its forces had hit targets from the Hizbollah militant group in Lebanon, as its conflict with Hamas threatened to spill over into other theatres in the region.

Michael Hewson said: “How much longer this market weakness can continue could well come down to events later this week and which may not be connected to events in the Middle East, with the release of the latest quarterly earnings from 4 of the so-called “Magnificent 7” which have helped to underpin the bulk of the gains in the Nasdaq 100, given that collectively they still account for 40% of the indexes market cap.”

“With Google owner Alphabet (NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN) and Facebook (NASDAQ:META) owner Meta Platforms all reporting this week the scope for a further lurch lower is high in the event of any sort of disappointment.”

“Complicating matters further is the fact that even if the numbers a good an escalation in the Middle East could open the trapdoor to further losses.”

Back in London, and ahead of a busy week of earnings, the early focus will be updates from Shanta Gold (LON:SHAN) and South32 (LON:S32).

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.