Proactive Investors - London’s blue-chips are expected to open in the red on Tuesday as a survey showed the wet weather hit UK retail sales in July and after weak Chinese trade data.
Spread betting companies are calling the FTSE 100 to open down around 28 points after closing down points 9.88 points at 7,554.49 on Monday.
China’s exports and imports fell more sharply than expected in July adding to concerns that growth in the world’s second-largest economy is slowing.
Exports declined by 14.5% year on year in dollar terms, the steepest fall since the outset of the coronavirus pandemic in February 2020.
Imports tumbled 12.4%, the biggest decline since a wave of infections hit the mainland in January and one of the worst in recent years.
Back in London, and according to the latest British Retail Consortium and KPMG sales monitor, retail sales rose 1.5% on-year last month, below the three-month average growth of 3.5%. Sales growth eased from 2.3% a year earlier.
July's rise was the weakest year-on-year growth in retail sales since August 2022, according to the BRC. Retail sales had risen 4.9% on-year in June.
On the corporate front, updates are expected from Glencore (LON:GLEN), Intercontinetal Hotels, IWG and abrdn.