FTSE 100 Gains Ahead of Inflation, GDP Data This Week

The FTSE 100 and European equities have started the week beginning Monday, August 12, 2024, where they left off, with London's blue-chip index gaining 0.5% shortly after the open, rising to 8,209.65. On Friday, the FTSE 100 rose by 0.28% to 8168.1, climbing 23.1 points. 

Overall, indices began to recover from around Tuesday last week, following a sell-off due to weak US jobs data prompting worries about the economy. That recovery seems to be continuing so far on Monday. 

EARNINGS RELEASES & ECONOMIC EVENTS

On the economic calendar, the UK will report unemployment data on Tuesday, inflation on Wednesday, GDP on Thursday, and retail sales on Friday, making it a busy week for those interested in the health of the UK economy. Meanwhile, the US will also report its inflation data on Wednesday.

On the earnings front, there are still several well-known names in the UK corporate diary that are set to update the market this week. Some of those names include Flutter Entertainment, Aviva, and Balfour Beatty.  

FOREX & GOLD

As of 08:04 am, the GBPUSD has risen by around 0.04% to 1.2762 after closing Friday’s session up  0.07% at 1.2757. The EURUSD has also edged higher, rising 0.07% to 1.0923 after closing down on Friday by 0.04%, closing the week at 1.0914. 

Gold is currently at $2,436, rising around 0.19% from Friday’s close.