FTSE 100 started the week muted after Brexit party has stood down from 43 non-Tory seats while tomorrow, Boris Johnson is scheduled to have a debate with Labour Party leader Jeremy Corbyn. On Friday, the Dow Jones Industrials breached the 28,000 mark for the first time on the closing bell after signs that China and US are close to a trade deal.
On the data front, Rightmove prices for new properties entering market in the UK dropped by 1.3% or £3,904 compared to October, as the number of new sellers dropped by 14.9% in comparison to a year ago. Last week, the UK GDP report for the 3Q disappointed forecasts at 0.3% vs 0.4%. Manufacturing production showed a 0.4% contraction versus a -0.2% consensus. Average earnings also printed lower at 3.6% than estimates at 3.8%
UK heads to the general election in early December that increases the economic uncertainty for the short term but might clarify the political situation for 2020.
In Wall Street futures are trading higher, the Dow futures are 0.20% higher at 28,010, the S&P 500 futures are 0.14% higher at 3,122 while the Nasdaq futures are 0.20% higher at 8,335 signalling a positive start for equities in the other side of the Atlantic.More content