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FTSE 100 Live: Stocks called lower amid subdued global markets

Published 09/11/2023, 06:58
Updated 09/11/2023, 07:10
© Reuters FTSE 100 Live: Stocks called lower amid subdued global markets

Proactive Investors - The FTSE 100 is expected to open lower ahead of a hefty batch of corporate earnings, and mixed performances from global markets.

Spread betting companies are calling London’s lead index down 17 points after closing down 8.32 points at 7,401.72 on Wednesday.

In Asia, markets were mixed after figures showed China slipped back into deflation in October, a blow as policymakers look to revive the world’s second largest economy.

In the US, the Dow edged lower, but the S&P 500 and Nasdaq extended their winning streaks to 8 and 9 respectively, their best runs since 2021, although gains were modest.

Philadelphia Fed President Patrick Harker told a conference in Evanston, Illinois, that he felt holding interest rates at their current, restrictive, level was the right course of action.

Harker’s comments followed a speech by Federal Reserve Chair Jerome Powell which gave little away on his thoughts on the economy and interest rates.

Harker said the US Federal Reserve is likely done raising interest rates to tackle inflation but probably won't cut them "in the short term."

Back in London, and the early focus will be results from FTSE heavyweight AstraZeneca (NASDAQ:AZN), Taylor Wimpey (LON:TW), B&M (LON:BMEB), Auto Trader (LON:AUTOA).

Read more on Proactive Investors UK

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