FTSE preview: Shares to fall; House prices
The FTSE 100 index is seen opening lower today, tracking weakness overnight on Wall street and in Asia and ending a surprisingly strong month and the quarter in dull fashion.
Taking stock: Investors will be focused on the final reading for US second quarter GDP
The UK blue chip index closed 9.17 points, or 0.2% lower on Wednesday at 5,569.27 after a choppy session, with weak banks the main drag on sentiment.
The FTSE 100 index is up 6.3% so far in September. Wall Street also took a breather from a month-long rally on Wednesday, with investors bracing for higher volatility going forward as the best quarter in a year nears its end.
The dollar was stuck near an eight-month low on Thursday, ground down by expectations of more Federal Reserve easing, while Asian stocks pulled back slightly from a two-year high as markets took a breather from September's strong rally.
British consumer confidence weakened more than expected in September, as people's outlook on their own finances and the economy as a whole darkened, a GfK/NOP survey showed on Thursday.
The only other domestic macroeconomic feature on Thursday will be September's Nationwide house prices report.
But investors will be more focused on the final reading for US second quarter GDP, although no revision is expected to the 1.6% quarter-on-quarter provisional growth number.
The latest US weekly jobless claims and September ISM New York report will also be released, with September's Chicago PMI data due later.
Britain's Treasury has commissioned a probe into high-frequency automated trading over concerns that a computer-generated error could affect the economy, the Financial Times said on Thursday.
Irish Finance Minister Brian Lenihan is expected to inject a further €2bn to €3bn of state capital into Allied Irish Banks, the Financial Times reported without naming any sources.
There will be updates today from Icap, Compass Group, Dairy Crest, M&C Saatchi, Clipper Windpower, Hamworthy, Redstone, Mediazest, Network Technology and Datong Electronics.
Most watched Money videos
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- Fiat pledges to cease grey car production as they launch new EV
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Land Rover unveil newest all-electric Range Rover SUV
- Mercedes has finally unveiled its new electric G-Class
- Mini celebrates the release of brand new all-electric car Mini Aceman
- Mail Online takes a tour of Gatwick's modern EV charging station
- Blue Whale fund manager on the best of the Magnificent 7
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- How YOU can cash in on the stock market 'feeding frenzy':...
- Kier Starmer and Rachel Reeves don't have that 'vision...
- Bungalow wars! Downsizers are in bidding battles against...
- Take That concert at Co-op Live has moved venue. Can I...
- BP profits hammered by lower energy prices
- Octopus Energy valuation grows to more than £7bn as...
- Retail sales hit by wet weather and early Easter bank...
- BUSINESS LIVE: BP profits slump 72%; Wayve raises more...
- I wanted to return £12,000 of wedding clothes from...
- Online trading platform Plus500 suffers fourth...
- MP condemn woke ESG debanking as 'legitimate' firms are...
- MARKET REPORT: Rate hopes send Footsie to another record...
- Big Four auditors fined £9m for the London Capital &...
- The 10-minute rule that could save you from a parking fine
- House prices flat in April says Halifax, but buyers seek...
- I'm dying of brain cancer at 39. But my insurance won't...
- Boost for City as BP vows to keep its London listing -...
- Saudi Aramco to pay £100bn dividend to help fund city of...