7.00: FTSE seen slightly lower at the open
FTSE 100 expected to open slightly lower following falls in the US overnight with attention focused on the Fed’s interest rate call later today.
Spread betting companies are calling London’s blue-chip index down by around 10 points.
US markets endured another dismal session as investors braced themselves for a large interest rate increase tomorrow and as Ford Motor (NYSE:F) Co. slumped 12.3% after warning of a US$1bn hit from inflationary pressures together with supply chain issues.
At the close the Dow Jones Industrial Average was down 313 points, or 1.01%, to 30,707.08, the S&P 500 fell 44 points, or 1.13%, to 3,856 and the Nasdaq Composite slipped 110 points, or 0.95%, to 11,425.
In the UK, results are due from Alphawave IP Group PLC (LON:IPO) and Pendragon PLC (LON:PDG) amongst others.