Home Business NewsBusiness FTSE 100 higher as market awaits big US announcements later this week

FTSE 100 higher as market awaits big US announcements later this week

by LLB Editor
23rd Jan 23 11:55 am

The FTSE 100 ticked higher on Monday without suggesting it would threaten the all-time high which it briefly flirted with before asell-off at the end of last week.

AJ Bell investment director Russ Mould said: “The big economic announcements come on Thursday and Friday as the US releases GDP figures for the fourth quarter and core inflation numbers from the world’s largest economy are also released.

“These will offer insight into two key and related factors which are grabbing the market’s attention right now. First, will the US avoid adeep recession and second, will inflation ease sufficiently to allow the Federal Reserve to ease up on interest rates before it has inflicted too much pain on businesses and consumers?

“Tomorrow the focus will be on PMI data from the US, Europe and the UK. Always a useful leading indicator given how on top of the economic backdrop the purchasing managers surveyed must be to get their decisions right.

“Transport and infrastructure names were, appropriately enough, helping to get the UK market moving at the start of the week. Balfour Beatty continues to impress under market Mr Fix-it Leo Quinn as it snared a £1.2 billion contract to deliver a package of works linked to the proposed Lower Thames Crossing while National Express secured new rail franchises in Germany.”

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