London shares outlook - Easier after NY falls; bank earnings, interest rates key
LONDON (Thomson Financial) - UK blue chips are expected to open lower Monday following pre-weekend falls on Wall Street, with further earnings reports from UK banks, kicking off today with HSBC, and global interest rate decisions to be the main focus of attention this week.
Spread bettors IG Index expect the FTSE 100 index to open around 8 points lower at 5,346, after closing 57.2 points lower Friday at 5,354.7.
Pre-weekend on Wall Street, the DJIA closed 51.70 points weaker at 11,326.32, while the broader S&P 500 index fell 7.07 points to 1,260.31, and the Nasdaq Composite lost 14.59 points at 2,310.96.
Wall Street retreated after readings on U.S. jobs and manufacturing -- the first reports for the third quarter -- indicated that businesses and workers still face a tough economy.
Asian markets were lower today, with Japan's Nikkei 225 index down 133.53 points at 12,961.063 at midday, while Hong Kong's Hang Seng ended the morning 202.97 points weaker at 22,659.63.
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