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FTSE 100 Live: Stocks expected to start the week on the back foot

Published 10/07/2023, 07:36
© Reuters.  FTSE 100 Live: Stocks expected to start the week on the back foot
UK100
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Proactive Investors - Good morning. The FTSE 100 is expected to start the week on the backfoot

Spread betting companies are calling London’s blue-chip index down by around 20 points after closing 23.56 points lower, or 0.3%, at 7,256.94 on Friday.

"With economic data continuing to look on the soft side and central banks showing little sign of easing up when it comes to interest rate rises there was little to cheer for markets in Europe, with concerns about weakness in the Chinese economy adding to the gloom," said CMC’s Michael Hewson.

Trading in Asia was mixed on Monday, as weak Chinese inflation data pointed to weak demand and a faltering economic recovery.

The consumer price index for June was down from the 0.2% seen in May, according to the National Bureau of Statistics, and was worse than expected as domestic demand slowed.

In the US on Friday, markets ended lower after strong wages date accompanied weaker than expected non-farm payrolls.

Back in London, and the early focus will BY where chief executive Philip Jansen is to step down.

Read more on Proactive Investors UK

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