London’s blue chip index closed 2.15 points lower at 7,025.43 yesterday after a weak lead from Asian markets put it on the back foot before it was also impacted by heavily cautious Wall Street trading before the Federal Reserve meeting later in the week.
The FTSE 100 was today called to open 9 points lower by CMC Markets traders.
Consumer goods giant Reckitt is among a number of companies due to report this morning. Moonpig will also update and shed some light on how it is performing after high street competition reopened.
Investors should also hear from a host of other firms including fashion firm In The Style, London landlord Capco and transport operator FirstGroup.
Meanwhile LVMH’s strong figures posted yesterday could prompt some investors to look closer at the luxury sector, such as potentially London-listed firms including Burberry.
Louis Vuitton owner LVMH recorded revenue of €28.7 billion in the first half of 2021, up 56% from a year earlier. The company said the US and Asia are up sharply since the start of the year while Europe is experiencing a gradual recovery.
Looking at Asia markets this morning, CMC Markets UK’s Michael Hewson said: “Concerns about over-reach by Chinese regulators saw equity markets get off to a cautious start yesterday. The clampdown on various sectors within the Chinese economy that rely on overseas investment has seen a flight of capital out of Chinese stocks, particularly those with overseas listings, raising concerns as to what other sectors might be next.”
He added: “This caution has continued in Asia markets this morning with the Hang Seng sinking to a 9 month low.”