MARKET PREVIEW

Market Preview is published daily an hour before trading kicks off on the London Stock Exchange, giving investors a roundup of macroeconomic and corporate news that is likely to move the markets along with the expected opening level of the FTSE 100.

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FTSE 100 headed for early fall as World Bank forecasts dampen market sentiment

January 17 2013, 6:52am
FTSE 100 headed for early fall as World Bank forecasts dampen market sentiment

 

The FTSE 100 is set to start the day in negative territory following the World Bank’s downgrade to its global growth forecast.

Citing the poor economic performance of the developed nations, it said output would expand by 2.4% this year rather than the previously predicted 3%.

This put a dampener on the Dow Jones, which was down 0.2% at the close. In Japan the Nikkei was headed in the same direction on currency concerns, but staged an unexpected recovery to end the session 9.2 points to the good at 10,609.64. Hong Kong’s Hang Seng and Korea’s Kospi index fell.

Here in London the index of the top 100 shares is expected to fall 13.5 points to 6,090.58.

Today’s corporate news agenda is filled with retailers with Dixons (LON:DXNS), Argos owner Home Retail (LON:HOME) and online fashion phenomenon ASOS (LON:ASOS) set to reveal how they fared over the Christmas period.


 


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