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FTSE 100 Live: Stocks seen lower after US falls; ECB rate call to come

Published 26/10/2023, 07:03
© Reuters.  FTSE 100 Live: Stocks seen lower after US falls; ECB rate call to come
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Proactive Investors - The FTSE 100 is expected to open sharply lower on Thursday after heavy falls in the US and ahead of the ECB interest rate decision.

Spread betting companies are calling London’s lead index down by around 44 points after closing up 24.64 points at 7,414.34 on Wednesday.

In the US, the Dow Jones Industrial Average fell 0.3%, the S&P 500 slipped1.4% and the tech-heavy Nasdaq Composite tumbled 2.4%.

It was the Nasdaq's worst day since February, while the S&P hit its lowest level since June.

The tech sell-off was led by Google parent Alphabet (NASDAQ:GOOGL), as its shares plunged 9.5% after disappointing cloud sales offset an earnings and revenue beat.

Meta Platforms beat expectations for revenue and earnings, but shares fell back as the owner of Facebook (NASDAQ:META) warned of continued macroeconomic uncertainty and lower advertising demand in the current quarter.

In Europe, the ECB is expected to leave interest rates unchanged.

Back in London, and the early focus will updates from Standard Chartered (LON:STAN), Unilever (LON:ULVR) and WPP (LON:WPP).

Wagamama owner Restaurant Group PLC (LON:RTN) may also attract interest on reports Pizza Express could make a rival bid for the restaurant chain.

Read more on Proactive Investors UK

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