FTSE preview: Shares slip on High St woe
The FTSE 100 is seen falling back on Tuesday, retreating after two sessions of modest gains in tandem with weakness overnight on Wall Street and in Asia as investors continue to fret about the state of the global economy after recent dull data.
Market watcher: Shares may give up gains.
Financial spreadbetters expect the FTSE 100 to open down 15-23 points, or 0.4%, having added 0.1% on Monday to end at 5,863.16 as strength in commodity stocks offset weakness in banks and travel stocks in the absence of any further depressing data.
Overnight on Wall Street, US blue chips shed 0.5%, while the broader S&P's 500 Index fell 1.1% on Monday, extending its slide to a fourth day and hitting its lowest level since March 18.
US Federal Reserve officials said recent economic data has been disappointing, with one suggesting it could delay the Fed's exit from its extremely easy monetary policy.
British retail sales fell unexpectedly in May as low wage growth and high inflation forced consumers to rein in spending after a strong Easter, a survey showed on Tuesday.
The British Retail Consortium said the value of annual like-for-like retail sales fell by 2.1% in May after a 5.2% jump in April which had been driven by the timing of Easter and an extra public holiday for the royal wedding. Economists polled by Reuters had expected a 2.25% rise on average.
Mortgage lender Halifax will release its British house price index for May.
Economists polled by Reuters expect prices to have risen by 0.2% on the month after a 1.4% decline in April.
No other British economic data is due for release on Tuesday, and only US June IBD consumer confidence is scheduled for 1400 GMT, although April US consumer credit numbers will be released.
There will be results today from Alternative Networks, Carclo, Findel, Hamworthy, Kewill, Phoenix IT, Opsec Security, VP and Synergy Healthcare.
Most watched Money videos
- Mini Cooper SE: The British icon gets an all-electric makeover
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Mercedes has finally unveiled its new electric G-Class
- Mini celebrates the release of brand new all-electric car Mini Aceman
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- A look inside the new Ineos Quartermaster off-road pickup truck
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Incredibly rare MG Metro 6R4 rally car sells for a record £425,500
- Introducing Britain's new sports car: The electric buggy Callum Skye
- Top Gear takes Jamiroquai's lead singer's Lamborghini for a spin
- Footage of the Peugeot fastback all-electric e-3008 range
- Kia's 372-mile compact electric SUV - and it could costs under £30k
- CITY WHISPERS: North Sea tax gushers to dry up under Labour
- Rate cuts could crash copper prices, analysts warn
- London-listed firms dish out £12bn in dividends in three...
- Why economists are telling women: You MUST have more...
- Local councils urged to save Woodsmith workers at Anglo...
- Glencore eyes bid for Anglo American coking coal assets
- Spare us politicians' quick fixes, says HAMISH MCRAE
- UK businesses urge Labour to scrap the tourist tax
- Centrica in showdown over chief's £8.2m pay
- UTILICO EMERGING MARKETS: Building a better future -...
- The Elizabethan manor I bought for £100k has been a huge...
- Dodgy Dyllan owes couple £2k after failing to service...
- MIDAS SPECIAL: Yes, the UK market is bursting back to...
- JEFF PRESTRIDGE: Lloyds' 40% interest rate - for 'good'...
- Vodafone completes sale of its Spanish operations for £4.3bn
- MARKET REPORT: JD Sports drags its feet as few spend big...
- ALEX BRUMMER: Don't trash Britain's energy security
- Soho House rejects takeover bid that would have seen it...