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FTSE 100 Live: Stocks called lower ahead of retail sales

Published 20/10/2023, 07:00
© Reuters.  FTSE 100 Live: Stocks called lower ahead of retail sales
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Proactive Investors - The FTSE 100 is expected to open lower amid interest rate concerns and worries over the ongoing conflict in the Middle East.

Spread betting companies are calling London’s lead index down by around 30 points after closing down 88.47 points at 7,499.53 on Thursday.

"Sentiment continues to remain fragile and while the geopolitical noise from the Middle East wasn't as apparent yesterday, it's still very much there and remains a clear and present danger for nervous investors, as concerns rise over third party involvement," said CMC Markets' Michael Hewson.

US markets closed down sharply after Federal Reserve chair Jerome Powell left the door ajar for a further interest rate increase.

Fed Chair Jerome Powell said US inflation is "still too high" despite a recent slowdown.

Additional evidence of "persistently above-trend growth," or a reversal of the recent decline in job openings and softening of wage growth could cause the Fed to reconsider its current rate pause, he told a conference in New York.

Back in London, and the early focus will be retail sales figures, and updates from InterContinental Hotels, Foxtons (LON:FOXT) and Record.

While the defeat of the Conservatives in two by-elections by Labour will also attract the headlines with a General Election likely next year.

Read more on Proactive Investors UK

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