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FTSE 100 Live: Stocks expected to open higher ahead of PMI

Published 24/01/2024, 06:51
© Reuters.  FTSE 100 Live: Stocks expected to open higher ahead of PMI
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Proactive Investors -Stocks called higher ahead of PMI.

The FTSE 100 is expected to post modest gains when trading starts on Wednesday ahead of PMI data and as the US earnings season rolls on.

Spread beting companies are calling London's blue-chips up by around 28 points after closing down 1.98 points at 7,485.73 on Tuesday.

In the US on Tuesday, Wall Street ended mixed, with the Dow Jones Industrial Average down 0.3%, the S&P 500 up 0.3% and the Nasdaq Composite up 0.4%.

After the market closed, Netflix (NASDAQ:NFLX) jumped 8.7%.

The streaming service reported strong growth in its quarterly revenue, an operating margin ahead of forecast and a record jump in subscriber numbers. Despite recent price hikes,

Netflix said global paid streaming memberships rose around 13% to 260.28 million from 230.75 million the year before, with 13.12 million net adds in the quarter - its largest fourth quarter ever.

"Last night's positive finish in the US looks set to see markets in Europe open higher again today, though we could well struggle to hang onto the gains if recent experience is any guide," commented CMC Markets UK chief market analyst Michael Hewson.

In London, the early focus will be updates from Fresnillo (LON:FRES), JD Wetherspoon (LON:JDW), easyJet (LON:EZJ) while abrdn is reported to be set to announce job cuts alongside a trading update.

After London's close results from Tesla will be revealed.

Read more on Proactive Investors UK

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