FTSE seen opening lower - Yahoo! Finance

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Thursday October 22, 06:36 AM
Reuters

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FTSE seen opening lower

LONDON (Reuters) - The FTSE 100 index is seen opening 58-66 points, or as much as 1.3 percent lower on Thursday, according to financial bookmakers, tracking a late reversal overnight on Wall Street and falls in Asia as the earnings roller-coaster ride continued across the Atlantic.

The blue-chip index closed 14.45 points, or 0.3 percent higher on Wednesday at 5,257.85 having fallen as low as 5,174.48 earlier in the day, recovering late on as Wall Street posted early gains.

U.S. stocks, however, ended lower knocked by a late sell-off in financial issues, after an influential bank analyst recommended selling Wells Fargo shares, and as a wider-than-expected loss from Boeing disappointed investors.

After-hours U.S. earnings news also disappointed, with online auctioneer EBAY forecasting fourth-quarter results at the low end of expectations when posting in-line third-quarter numbers.

Asian shares fell on Thursday also impacted by disappointment that Chinese growth data, though robust, offered few surprises.

News that China's economy surged 8.9 percent in the third quarter, and retail sales and other indicators were robust in September, reinforced optimism Asia was on a sustainable recovery path. But the outcome was widely expected, giving investors little to trade on.

The main domestic macro focus will be on September retail sales numbers, with a 0.5 percent rise expected on the month, after a flat reading in August, giving a year-on-year increase of 2.8 percent, up from 2.1 percent in the previous month.

Across the Atlantic, September U.S. leading indicators and the latest initial weekly jobless numbers will be eyed later in the session.

(Reporting by Jon Hopkins; Editing by Dan Lalor)

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