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FTSE 100 to start lower as Barclays launches cost-cutting drive

Published 20/02/2024, 07:44
© Reuters. FTSE 100 to start lower as Barclays launches cost-cutting drive
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Proactive Investors - The FTSE 100 is expected to retreat in early trading on Tuesday after nudging six-week highs in recent sessions.

London's blue-chip index is seen falling around eight points, according to spread-betting platforms, after adding just under 17 points to close at 7,728.5 the day before.

Early stock market moves in the City could be dictated by the banking sector as Barclays PLC (LON:BARC) announced a £1 billion share buyback, notified of its new operating division structure and promised to go on a major cost-cutting drive over the next three years.

Holiday Inn owner Intercontinental Hotels Group PLC (LON:IHG) could be among the FTSE risers after it said it aims to return more than $1 billion to shareholders this year, including $800 million in share buybacks.

Read more on Proactive Investors UK

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