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FTSE 100 Live: Stocks to plummet after Israel commences attacks on Iran

Published 19/04/2024, 07:25
© Reuters.  FTSE 100 Live: Stocks to plummet after Israel commences attacks on Iran
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Proactive Investors - Month-on-month retail sales stayed flat in March, undershooting consensus expectations of 0.3% growth.

Year on year, they added 0.8% after falling 0.3% in February.

Commenting on today’s data print, ONS senior statistician Heather Bovill said: “Retail sales registered no growth in March. Hardware stores, furniture shops, petrol stations and clothing stores all reported a rise in sales.

“However, these gains were offset by falling food sales and in department stores where retailers say higher prices hit trading.

“Looking at the longer-term picture, across the latest three months retail sales increased after a poor Christmas.”

Stocks to fall over 70 points

The FTSE 100 is expected to plummet when markets open today as tensions between Iran and Israel tip further into all-out conflict.

US officials confirmed that Israel carried out an attack on Iran overnight, following days of knife-edge tensions.

Blue chips are also being impacted by a poor showing from US stocks, with the S&P 500 chalking up its fifth straight day of losses yesterday.

On today’s macroeconomic calendar, retail sales were shown to have stayed flat month on month in March, undershooting the 0.3% rise anticipated by analysts. Year on year, retail sales added 0.8%.

There is little in the way of company earnings today, barring an update from FTSE 250-listed fund manager Man Group PLC (LON:EMG).

Futures contracts have the footsie opening 72 points lower at 7,812.

Read more on Proactive Investors UK

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