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

Published 04/09/2023, 06:59
Updated 04/09/2023, 07:10
© Reuters.  FTSE 100 Live: Stocks expected to start the week on the front foot
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Proactive Investors - Good morning and the FTSE 100 is expected to make a positive start to the week on hopes that US interest rates have peaked and actions taken by Chinese authorities will support its faltering economy.

Spreading betting companies are calling London’s index up by around 38 points after closing 25.41 points at 7,464.54 on Friday.

“Last week ended on a positive note, and this week started with a solid risk appetite, as the US jobs data hinted at a finally loosening jobs market, while Chinese stocks rallied on further measures deployed by the Chinese government to support the country’s faltering property market,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Investors in China were looking for further stimulus measures for its property sector, following a series of measures announced last week, which included reducing mortgage down payments and tax incentives.

Embattled developer Country Garden won approval from creditors to extend a deadline for a key bond repayment, narrowly avoiding a potential default, sent shares soaring 13% in Hong Kong, providing some better news for the property sector.

Investors in Asia were eyeing potential further stimulus measures from China for its property sector, following a series of measures announced last week, which included reducing mortgage down payments and tax incentives.

Back in London, and the early focus will be updates from Ashtead (LON:AHT) technology and Belvoir.

Read more on Proactive Investors UK

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