FTSE higher but lacking enthusiasm

As ever the FTSE is lacking the enthusiasm of other equity markets, but it is still 35 points higher in early morning trading.

Hewlett Packard sign
Source: Bloomberg

Food retailers again hog the headlines, with Tesco continuing to piece together its battered reputation with the addition of Compass Group's Richard Cousins and Ikea’s Mikael Ohlsson as non-executive directors. 

WM Morrison remains determined to take the price-cutting fight to its competitors, with the promise of more discounts to their goods ahead of Christmas. 

The Egyptian government’s efforts to restore market confidence in the country have seen them belatedly pay $350 million to BG Group as it starts to tackle outstanding debts. As encouraged as the energy company will be, they will undoubtedly not be fully factoring in the remaining balance of the $1.2 billion still owed just yet. 

Commodity stocks look set to dominate the FTSE this week, with Brent crude trading down around the $92/barrel level and gold now having broken below the psychological $1200 level.  

The final countdown to Alcoa kicking off the latest US reporting season has begun, with the US aluminium manufacturer set to start the ball rolling on Wednesday. 

Hewlett and Packard look set to go their separate ways with a split likely to improve valuations for both parties. Once again IG is offering extended trading hours on all the major US corporations reporting over the coming weeks, and the company is up over 5.5% in trading so far today. 

Ahead of the open we expect the Dow Jones to start 68 points higher at 17,077.  

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by analysts

Een artikel zoeken

Form has failed to submit. Please contact IG directly.

  • Ik wens per e-mail informatie van IG Group bedrijven te ontvangen over handelsideeën en IG's producten en diensten.

Voor meer informatie over hoe wij uw gegevens mogelijk kunnen gebruiken, bekijkt u ons Privacy- en toegangsbeleid en onze privacy website.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.