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FTSE 100 called to open lower, and BHP annual results on way

·1-min read
BHP is reporting annual results on August 17 (BHP)
BHP is reporting annual results on August 17 (BHP)

The FTSE 100 lost 64.73 points on Monday, with slower growth in China's retail and industrial production figures adding to worries that the global economic rebound may not be as strong as originally hoped.

Michael Hewson, chief market analyst at CMC Markets UK, said: “There is increasing scepticism that subsequent economic data will be any better in the coming months.”

London’s top flight yesterday declined 0.9% to 7153.98.

Today CMC Markets traders expect the FTSE 100 to open 15 points lower.

Mining giant BHP, which on Monday confirmed talks that could see it offload its oil and gas business to Woodside Petroleum in exchange for shares in the Australian company, is among a number of London-listed firms reporting today.

Other businesses due to give updates include Just Eat Takeaway, Plus500 and Genuit Group, a manufacturer of plastic piping systems.

Also this morning, there will be latest unemployment figures.

Hewson said: “The unemployment picture for the UK economy has improved significantly over the last few months, a trend that has been no better illustrated than with the sharp decline seen in the claimant count rate since March, when it was at 7.2%. Since then, we’ve seen a sharp decline, falling to 5.8% in June, as businesses continue to reopen, even with the delay to reopening to July 19.”

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