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FTSE 100 may struggle for direction in wake of best trading day

Published 20/07/2023, 07:11
© Reuters.  FTSE 100 may struggle for direction in wake of best trading day
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Proactive Investors - The FTSE 100 may struggle on Thursday to recreate the same positive vibes for a second day in a row, following its best trading session of the year so far.

London's stock benchmark is heading for a small decline at the open, according to spread-betting platform IG, of around two to three points.

Yesterday, off the back of improving inflation numbers, the index added 134.5 points or 1.8% to finish at 7,588.20, setting up the US for more gains, with the Dow Jones closing higher for the eighth session in a row, up 0.3%, followed by the S&P 500 gaining 0.24% and the Nasdaq closing just above flat.

Big earnings came overnight too from Tesla and Netflix (NASDAQ:NFLX), though both shares fell sharply in after-market trading. Netflix subs improved on the password sharing crackdown but revenues disappointed, while Tesla's revenue impressed but margins narrowed after Elon Musk's price cuts.

Focusing on today in London, we have a trading update from Royal Mail (LON:IDSI) owner IDS, which has also announced a new group chief exec in the form of Martin Seidenberg, formerly boss of the company's international arm, GLS.

More on those results shortly, along with numbers from easyJet (LON:EZJ), defence contractor Babcock, spread-better IG Group, energy group SSE (LON:SSE) and retailer Dunelm (LON:DNLM).

Read more on Proactive Investors UK

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