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FTSE 100 Live: Stocks called lower after Dow snaps winning streak


FTSE 100 Live: Stocks called lower after Dow snaps winning streak By Proactive Investors

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Published Jul 28, 2023 07:00
Updated Jul 28, 2023 07:10

FTSE 100 Live: Stocks called lower after Dow snaps winning streak

Proactive Investors – The FTSE 100 is set to open Friday on the back foot after US markets fell back.

Spread betting companies are calling London’s lead index down around 21 points after rising 15.87 points to 7,692.76 on Thursday.

“As far as today’s price action is concerned, the late decline in the US looks set to translate into a weaker European open, even though confidence is growing that the Fed is more or less done when it comes to its rate hiking cycle,” Michael Hewson at CMC Markets said.

While the earnings volume dials down a notch after a frantic Thursday the analyst meeting at NatWest (LON:NWG) today could be fairly lively in the wake of Alison Rose’s departure.

Other big names reporting include AstraZeneca (NASDAQ:AZN), IMI (LON:IMI), Standard Chartered (LON:STAN) and British Airways owner, International Consolidated Airlines Group (LON:ICAG) SA (LSE:IAG).

In the US, the Dow snapped a 13-day winning streak. A 14th straight day of gains would have been its longest winning streak since 1897 – a year after the Dow was created.

The Dow Jones fell 0.7% while the S&P 500 and Nasdaq slipped 0.6%.

In Asia, the Nikkei 225 was 1.5% lower after the Bank of Japan has tweaked a longstanding pillar of its ultra-loose monetary policy, sending bond yields higher and causing the yen to fluctuate.

The central bank said it would continue to cap the yield on 10-year government bonds at 0.5% but would allow long-term interest rates to rise above that level by an unspecified certain amount.

Read more on Proactive Investors UK


FTSE 100 Live: Stocks called lower after Dow snaps winning streak

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