London open stocks shares were poised for a moderate open on Wednesday, as investors watch the release of the minutes of the latest meeting of the Federal Reserve System.
The FTSE 100 was called to open about five points higher at 7.106.
London open stocks Naeem Aslam, chief analyst at Ava Trade, said: “European and US futures are trading almost at the same level because investors believe that the pace of economic growth has slowed in Europe and the United States. Investors are generally building momentum where they ended yesterday.
“Traders have begun to question whether economic growth is approaching its peak and, if so, whether there will be a recovery in financial markets in the coming months. The necessary tightening of the Fed.”
“Investors should note that the latest minutes of the Fed meeting will be released today. These minutes would provide indications of possible changes in monetary policy in the short term. In this regard, the minutes are expected to remain subdued as that inflation remains under control and the labor market is growing at a sustainable rate. ”
In corporate reporting, Redrow said he expected revenue to exceed £ 2 billion in 2022 due to a strong order book and the completion of a private rental project in London.
The company forecast sales of around £ 1.94 billion, compared to £ 1.34 billion last year when the Covid-19 pandemic hit the economy, but below £ 2.11 billion in 2019.
London open stocks An industry colleague Housebuilder Vistry expressed his confidence in meeting the market consensus expectations for fiscal year 21, stating that the first half of the year was “significantly” ahead of his expectations with positive customer demand. .
In the six months to June 30, the residential buildings segment increased to 3,126 from 1,235 in the same period last year and is about to deliver around 6,500 units, compared to 4,652 in 2020.
[LONDON] European stock markets rallied in the open market on Wednesday as investors watched minutes after the last meeting of the European Central Bank (Federal Reserve) for signs of future interest rate hikes.
London’s benchmark FTSE 100 index gained 0.5 percent to 7,138.83 points.
In the euro area, the Frankfurt DAX 30 index rose 0.7 percent to 15,611.59 points and the Paris CAC 40 rose 0.4 percent to 6,531.11.
Traders are trying to see if the strong inflation caused by the reopening of economies will force the Fed and other central banks to adjust borrowing costs earlier than expected, which in turn could slow the recovery.
“Investors should be aware that the latest minutes of the Fed meeting will be released today,” said Naeem Aslam, chief analyst at AvaTrade.
European stocks rallied on Wednesday as yields fell again and oil prices stabilized after strong moves since the last meeting.
Investors expect to release the minutes of the Federal Reserve System today.
After a 0.5% drop on Tuesday, the pan-European STOXX 600 rose 0.6% to 458.91. The German DAX rose 0.9%, the French CAC 40 index rose 0.4% and the British FTSE 100 index rose 0.7%.
French state energy group EDF increased 1.1% after increasing its EBITDA target for 2021.
German software company SAP grew 3.5% after a double upgrade to a Bank of America “buyout.”
The oil company Royal Dutch Shell grew more than 2% in London. The company said it would increase shareholder earnings by buying back shares and dividends faster than expected.
BP Plc grew 1% as oil recovered some losses from the previous session.
Miners Anglo American, Antofagasta and Glencore increased 2-3 percent.
JD Wetherspoons’ stock price fell more than 1%. The company saw a 14.6% drop in similar sales from May 17 to July 4, when the tavern was fully opened.
London open stocks Duffy’s shares rose 3.2% as the Italian auto grill denied rumors of a possible alliance with Swiss duty-free trade. Their participation increased by more than 1%.
According to Destatis, German industrial production fell 0.3% month-on-month in May, at the same rate as in April, according to economic announcements. Economists predicted that production would rise 0.5%.
Industrial production growth on an annual basis fell from 27.6% a month ago to 17.3%.
According to data from subsidiaries Lloyds Bank Halifax and IHS Markit, UK home prices fell for the first v