Proactive Investors - The FTSE 100 is expected to open little changed on Wednesday despite gains in the US and Asia after a mixed reaction to results from Microsoft (NASDAQ:MSFT) and Google owner Alphabet (NASDAQ:GOOGL).
Spread betting companies are calling London’s lead index down by around 3 points after closing up 14.87 points at 7,389.70 on Tuesday.
Michael Hewson said the results from Microsoft and Alphabet were “impressive, although judging by the market reaction the market had a somewhat mixed view, sending Alphabet lower and Microsoft higher in aftermarket trading, even though both beat expectations on revenues and profits.”
Reaction centred on the performance of both businesses Cloud operations where Microsoft performed strongly and Alphabet missed expectations.
Asian markets were boosted after China announced the issuance of $137 billion in additional sovereign bonds and Hong Kong’s government announced new support measures to buoy the financial hub’s languishing economy.
Back in London, and the early focus will updates from Lloyds Banking Group PLC (LON:LLOY), Fresnillo (LON:FRES) and Reckitt Benckiser (LON:RKT).