FTSE 100: Equities Decline as Last Week’s Sell-Off Continues

The FTSE 100 and European equities have started the week beginning Monday, August 5, 2024, negatively, picking up where they left off last week. The FTSE 100 is currently down more than 2% shortly after the opening bell. On Friday, London’s blue-chip index fell more than 1.3%, declining 108.65 points to close the week at 8174.71. 

Overall, indices declined on Friday as markets reacted to the latest US jobs data, which showed unemployment rose to 4.3%. Furthermore, non-farm payroll data for July came in below expectations at 114k.

EARNINGS RELEASES & ECONOMIC EVENTS

On the economic calendar, there are no major economic releases this week. However, new car sales data will be reported today, while the Halifax house price index will be posted on Wednesday. In the US, ISM services PMI data will be released today.

On the earnings front, there are several well-known names in the UK corporate diary set to report this week, including Abrdn, Travis Perkins, Glencore, Bellway, Entain and Hargreaves Lansdown.  

FOREX & GOLD

As of 08:04 am, the pound has declined around 0.44% to 1.2744 after closing Friday’s session up  0.49% at 1.2799. The euro has edged higher, rising 0.11% to 1.0920 after it closed Friday up more than 1% at 1.0908. 
Gold is currently at $2,228, falling around 0.57% from Friday’s close.

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