Proactive Investors - The FTSE 100 is expected to open lower following heavy falls in the US on renewed concerns over the health of the banking sector although well-received results from Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) after the closing bell in New York may limit the declines.
Spread betting companies are calling London’s lead index down by around 20 points.
On Wall Street, stocks tumbled on concerns over the economy and the banking sector, and after a mixed batch of earnings which saw the likes of logistics and shipping firm UPS (NYSE:UPS) tumble nearly 10%.
First Republic Bank (NYSE:FRC) slumped 49% after it reported on Monday a sharp outflow of deposits at the bank dragging others in the sector lower. Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), and JPMorgan (NYSE:JPM) were among others to slip.
But after the closing bell, shares in Microsoft, Visa (NYSE:V), and Google-owner Alphabet all rose after their latest financial updates.
In Asia, markets were mixed. In Tokyo, the Nikkei 225 stock index was down 0.7%. In China, the Shanghai Composite was up 0.1%, while the Hang Seng index in Hong Kong was up 1.0%.
Back in London and the early focus will be results from Standard Chartered (LON:STAN) and GSK (LON:GSK).
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