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FTSE 100 Live: Stocks called lower as falls in the US and Asia

Published 07/09/2023, 07:01
Updated 07/09/2023, 07:10
© Reuters FTSE 100 Live: Stocks called lower as falls in the US and Asia

Proactive Investors - Welcome to Thursday’s coverage and the FTSE 100 is expected to make a weak start to the day following falls in New York and Asia.

Spread betting companies are calling London’s lead index down 23 points after closing down 11.79 points at 7,426.14 on Wednesday.

US markets weakened after a strong services sector reading, boosted hopes for an economic soft landing, meaning interest rates may stay higher, for longer.

The Dow Jones Industrial Average closed down 0.6%, the S&P 500 fell 0.7% and the Nasdaq Composite eased 1.1%.

Asian markets were also in the red.

China's exports and imports sank again in August, data showed, as the world's second-largest economy struggles with sluggish global demand and a wider slowdown.

However, the pace of contraction slowed from the previous month.

Back in London, and it’s another busy day for corporate news with updates from Beazley (LON:BEZG), Currys (LON:CURY), Melrose (LON:MRON), Direct Line (LON:DLGD), Inspecs (LON:SPECI) and Synthomer (LON:SYNTS).

In company news, paper and packaging firm Smurfit Kappa (LON:SKG) said late on Wednesday that it is in discussions to merge with US paper company Westroc.

Elsewhere, the Halifax will give its view in the state of the housing market.

Read more on Proactive Investors UK

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the media crooks, one day all is good the next so so bad. laughable
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