FTSE 100 Rises as European Indices Climb

The FTSE 100 started the week cautiously. On Monday, June 24, 2024, the index initially fell around 0.1% to 8,229.75. On Friday, London’s blue-chip index declined by 0.42%, falling over 34 points lower at 8237.72. Elsewhere, the DAX, CAC 40 and Euro Stoxx 50 had risen, while the AEX had fallen at the start of the week.

However, not long after the open, European indices, including the FTSE 100, began to rise. Specifically, the FTSE 100 is up 0.24% at 8,257.75 as of 08:55 am.

EARNINGS RELEASES & ECONOMIC EVENTS

While the UK's economic data calendar this week may not be busy, traders with a focus on the automotive sector should pay attention to the car production data, set to be released at 1 am on Thursday. This data could provide valuable insights for strategic decision-making. For all, the GDP data on Friday at 8 am will be a key indicator to monitor. 

For the UK corporate diary, there are some well-known names set to update the market this week. AO World will post an update on Wednesday, while Currys, Halfords and Moonpig will report on Thursday. 

FOREX & GOLD

As of 08:05 am, the pound has edged around 0.09% higher to 1.2651 after closing Friday’s session down 0.13% at 1.2640. The euro has also gained ground, climbing 0.15% at 1.0706 after it closed Friday down 0.1% at 1.0691. 

Gold is currently at $2,322 after rising 0.03%.