FTSE 100 set to open higher for brighter start in August
uch like the weather, the FTSE 100 on Friday closed looking soggy, with fewer blockbuster results to excite investors, and shares in companies including Intertek and airline giant IAG declining.
London’s blue chip index closed down 46.12 points, or 0.65%, at 7032.3.
This week a host of firms in the top flight will announce results, from housebuilder Taylor Wimpey, to HSBC and engineering group Rolls Royce.
Today CMC Markets traders expect the FTSE 100 to open 37 points higher.
Monday morning will bring PMI figures in the manufacturing sector for July. Michael Hewson, chief market analyst at CMC Markets UK, said in the UK a slowdown from the levels in June is expected.
He said that is “largely due to disruptions caused by staff shortages, and interruptions to supply chains due to a rise in infections and workers self-isolating”.
Hewson added: “Input costs are also rising, raising some concern that price rises could become more persistent and act as a brake on consumer confidence.”