The FTSE 100 is expected to open lower on Thursday
(Picture: AFP via Getty Images)Firms including airlines giant IAG, insurance group Admiral and Spirax-Sarco Engineering were in demand yesterday, and the FTSE 100 was pushed to a new 18-month high.
London’s top flight rose 59.1 points higher to close at 7220.14 on Wednesday.
Today CMC Markets traders expect the blue chip index to open 20 points lower.
There are a number of London-listed firms reporting this morning, including Aviva, as well as those from the travel or leisure sectors: Tui, Entain and Cineworld.
Meanwhile, investors continue to watch the latest from firms in the midst of takeover battles. Defence and aerospace technology business
Meggitt had agreed a 800p a share deal with engineering technology giant Parker-Hannifin. However, Meggitt has also now got a 900p-a-share “non-binding” offer from US company Transdigm.
Inhalers expert Vectura and Morrisons are also takeover targets shareholders are watching closely.
Also coming up this morning is t he UK GDP report for the second quarter.
In news that could be of interest to shareholders in housebuilders and estate agents, results from a survey today by the Royal Institution of Chartered Surveyors’ show the number of new buyer enquiries slowed in July as the government’s stamp duty holiday began to taper off.
RICS said: “New buyer enquiries shrank over the month, with a net balance of -9% of respondents seeing a fall, down from +10% in June, and ending a positive four-month streak for the UK housing market.”
However, Simon Rubinsohn, chief economist at RICS, pointed to demand still being solid. He said: “A strong message from survey respondents is that buyers are continuing to place a premium on space with the prospect of a hybrid model of work being adopted by many organisations providing the opportunity for greater flexibility around location.”
