Week ahead: Volatile markets are forecast ahead of the referendum

Billy Bambrough
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NYSE Opens After Chinese Markets Take Massive Plunge
Investors are braced for the market to move sharply this week (Source: Getty)

Recent wild swings in the FTSE 100 are expected to continue until the European Union referendum on Thursday as polls show the electorate evenly split on the decision.

At last week’s close, the FTSE rose from a four-month low, up 1.2 per cent, to 6,021.09 points. It was, however, down 1.5 per cent for the week, its third straight losing week.

On top of the looming Brexit vote, some big high street names are reporting numbers. Whitbread, owner of Costa Coffee and Premier Inn, has a trading update for its first quarter out tomorrow.

It will want to reassure investors that it’s moving back towards sales growth.

Department store Debenhams is set to post flat sales for its third quarter on Wednesday, and could have taken a hit from fire sales at stricken retailer BHS tempting customers away.

On Thursday, grocer Tesco will update on its first-quarter, and investors will be closely looking for any clues on the supermarket giant’s shift in strategy after various non-core asset sales.