The FTSE 100 is predicted to dwindle slightly in Thursday’s opening trades, despite a healthy session on Wall Street overnight and positive trading in most of Asia this morning.
Futures are calling the London index 6 points lower, undoing some of the near-22-point gain from yesterday that saw the index close at 9,164.3.
Tech stocks led the way in the US overnight, something the Footsie lacks, with the Nasdaq climbing 1.2%, the S&P 500 adding 0.7% and the Dow Jones edging up 0.2%.
For the third day in a row, India is the only Asian market in the red, after Donald Trump confirmed tariffs on the country’s goods will be lifted to 50%.
Back in the UK, house prices rose 0.4% in July, Halifax data shows, the largest monthly increase in 2025 so far.
6.30am: FTSE 100 Live on Thursday 7 August
It’s Bank of England decision day, with a quarter-point cut to 4.0% for the base rate widely expected today.
What will be worth watching for the BoE anoraks is a potential three-way split between monetary policy committee (MPC) members, as they pick over some thorny economic data.
Amidst a softening labour market and lingering inflation concerns, the MPC is also due to release its quarterly monetary policy report.
Before that, there’s a healthy flow of FTSE 350 company results scheduled.
WPP PLC (LSE:WPP) let investors down early ahead of its interims, sending its shares plummeting to a 16-year low last month as it warned of lower revenue and profit expectations this year.
Analysts and investors were already worrying about how the advertising industry is likely to be profoundly disrupted by artificial intelligence, and this sent toppling any who were still on the fence.
Newly appointed CEO Cindy Rose, ex of Microsoft and Disney, does not start until September.
Elsewhere, Intercontinental Hotels Group PLC (LSE:IHG) was the other side of the coin, reporting a solid start to the year last time it came to market.
Strong demand in Europe and the Middle East offset a decline in China, the owner of the Holiday Inn and Crowne Plaza hotel brands said, adding that it is “on track” to meet current full-year 2025 consensus profit expectations.
Global revenue per available room (revPAR) grew 3.3% for the first quarter of 2025, compared to 3.0% over the whole of last year.
In macroeconomic news, the Halifax house price index will be issued at 7am.
Announcements expected:
Trading updates: Flutter Entertainment
Interims: Burford Capital, Deliveroo, Dowlais Group, Harbour Energy, Hikma Pharmaceuticals, Hutchmed (China), InterContinental Hotels Group, Mears Group, Morgan Advanced Materials, Serco Group, Spectris, WPP
Overseas announcements: Eli Lilly, Merck, Viatris (all premarket), Block, Gilead Sciences, Pinterest, Take-Two Interactive Software, The Trade Desk, Twilio (all afterhours)
Economic announcements: Balance of Trade (CHN, GER, FRA), Halifax House Prices (UK), Bank of England Decision (UK), Initial Jobless Claims (US), Wholesale Inventories US), Consumer Inflation Expectations (US)