FTSE 100 Starts Week Lower Ahead of GDP Data on Thursday

The FTSE 100 has started the week beginning Monday, July 8, 2024, on the back foot, with the index declining 0.29% to 8,180.00 just after the opening bell. On Friday, London’s blue-chip index dropped by 0.45%, falling 37.33 points lower to 8203.93.

EARNINGS RELEASES & ECONOMIC EVENTS

While UK economic data releases are relatively sparse this week, there is one crucial number that should be on every investor’s radar. On a smaller scale, the BRC Retail Sales Monitor Data will be reported on Tuesday, July 9 (12:01 am), while the highly anticipated UK GDP data for May will be posted on Thursday, July 11 (09:00 am). On the other side of the pond, Tuesday and Wednesday’s congressional testimony by Federal Reserve Chair Jerome Powell may provide some volatility. US GDP inflation data will be reported on Thursday.

The UK corporate diary is busy this week. Begbies Traynor Group will report on Tuesday, while Barratt Developments will release an update on Wednesday. Jet2 is expected to report on Thursday, alongside Wood Group and many more. 

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FOREX & GOLD

As of 08:04 am, the pound has declined 0.07% to 1.2802 after closing Friday’s session just 0.42% higher at 1.2812. The euro also gapped lower, currently down 0.14% at 1.0823 after it closed Friday 0.26% higher at 1.07838. 

Gold is currently at $2,377, declining around 0.59% from Friday’s close.