What you need to know before the open – 28/01
A mixed open for European markets today – slightly less jittery after Asian counterparts showed some signs of stability in Tuesday trading.
Today’s UK GDP numbers are expected to show that the economy grew 0.7 per cent in the fourth quarter – that’s 2.8 per cent when annualised, which would be the best number since the first quarter of 2008. Doubts remain, however, about how sturdy the recovery is, given that much of it’s been consumer led.
With 25 minutes to go the FTSE100 is forecast to start +20 at 6571.
— David Jones (@JonesTheMarkets) January 28, 2014
NY falls between 0.5% & 1.1% yesterday. Asia waits nervously for FED – ASX -1.19%, Shanghai +0.08%, Hang Seng +0.09%, NIKKEI +0.35% @ 5.12am
— David Buik (@truemagic68) January 28, 2014
Key events:
- EU EcoFin meeting (24 hours)
- France consumer confidence for January in 7.45am. Expected unchanged at 85.
- German Constitutional Court ruling on EU’s OMTs. Time not specified.
- Italy consumer confidence for January at 9.00am. Expected at 97.0 from 96.2.
- UK GDP for fourth quarter at 9.30am. Expected at 0.7 per cent from 0.8 per cent.
- US durable goods orders for December at 1.30pm. Expected at 1.8 per cent from 3.4 per cent.
- US S&P/Case-Shiller home prices indices for November at 2.00pm. Expected at 13.7 per cent from 13.6 per cent.
- US consumer confidence for January at 3.00pm. Expected at 78.9 from 78.1.
- US Richmond Fed manufacturing index for January at 3.00pm. Expected unchanged at 13.