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FTSE 100 set to open higher, as investors watch Morrisons and retail sales

·1-min read
Morrisons is led by David Potts  (PA Media)
Morrisons is led by David Potts (PA Media)

London’s top flight was set for a calmer start this morning after slumping yesterday, hit by “a cocktail of worries”.

Traders fretted about Afghanistan, a fresh spread of Covid-19 and strong words from the US Federal Reserve.

As AJ Bell’s Russ Mould put it, theses added up to a “ cocktail of worries which are dogging investor sentiment”.

The FTSE 100 closed 110.46 points, or 1.54% lower, at 7085.86. Today traders at CMC Markets expect it to open 8 points higher.

Companies that investors will be watching on Friday morning include FTSE 250 grocer Morrisons.

After the market closed yesterday, suitor Clatyon, Dubilier & Rice, the private equity group, said it had struck a 285p per share deal for the chain.

Morrisons’ board had previously agreed to a Fortress-led consortium doing a takeover, so shareholders in the supermarket business will be waiting to see what this rival bidder does next.

Elsewhere today, retail sales figures for July will be published.

Read More

FTSE 100 takes a tumble as investors fret about US policy and fresh Covid outbreaks

Bidding war heats up at Morrisons with new £7 billion bid by US private equity

Morrisons to close its supermarkets on Boxing Day, in move to give staff a longer festive break

Shares in takeover target Morrisons rise as suitor gets extra time to table offer

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