onsumer healthcare business Haleon makes its debut on the London stock market today after completing its demerger from GSK.
Trading in the maker of products including Panadol, Sensodyne and Voltaren begins at a challenging time, with more warnings from London-listed companies today.
Car insurer Direct Line has highlighted the impact of the cost inflation while delivery app Deliveroo has halved its guidance on growth in gross transaction value for this year.
FTSE 100 higher, focus on UK inflation
London’s FTSE 100 index is set to open higher at the start of a week due to include the latest UK unemployment, wage and inflation readings as well as a rise in interest rates by the European Central Bank (ECB).
The US earnings season also continues with results today from Goldman Sachs before Netflix after Tuesday’s closing bell and Tesla, Twitter and Snap later in the week.
Their outlook statements will be significant at a time when the US economy is facing another big rise in the Federal Reserve funds rate later this month.
Expectations are now focused on a 75 basis points increase rather than the 100 points seen by some traders last week.That shift has taken some of the momentum out of the US dollar, which weakened slightly today to stand at $1.19 versus the pound.
The monetary policy approach of policymakers at the Bank of England has been much less dramatic than US counterparts, although an inflation figure above the forecast 9.2% on Wednesday will ramp up pressure for a 0.5% rise in August.
The ECB is expected to raise its key rate for the first time since 2011 when it raises by 0.25% at its meeting on Thursday, with a pledge to do so again in September.
Ahead of these developments, CMC Markets expects the FTSE 100 index to open 35 points higher at 7194.
Credit: www.standard.co.uk /