The FTSE 100 has started today’s session and this shortened trading week on the front foot, climbing 1% to 8,293.35 in early Tuesday trading on May 7, 2024, following Friday’s 0.51% rise, which saw London’s blue-chip index closed up 41.34 points at 8213.49 on Friday.
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EARNINGS RELEASES & ECONOMIC EVENTS
When it comes to UK economic economic data, there are a few key data points to watch and one very important release. Today, the Halifax House Price Index was released, while there is also new car sales data set to be reported. On Thursday, there will be a Bank of England interest rate decision with the expectation that rates will remain on hold for now. However, watch out for any comments regarding future rate cuts, which will be sure to provide some volatility.
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The UK corporate diary is again busy, with IWG and BP reporting today. Meanwhile, Renishaw will report on Wednesday, while Wood Group will provide its latest update on Thursday and IAG will report on Friday.
FOREX & GOLD
As of 08:09 am, the pound has declined around 0.17% to 1.2541 after closing Monday’s session up 0.1% at 1.2562. The euro has declined by 0.04% to 1.0763 after closing Monday up 0.09% at 1.0767.
Gold is currently at $2,319 after falling 0.2%.
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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.
