FTSE 100 Tipped To Slip Amid Oil Price Hikes And Weaker Gold
The FTSE 100 is set to open lower after four consecutive weekly gains, as oil prices firm up due to fresh uncertainty around shipping through the Strait of Hormuz. This has led to a rise in crude prices, which can positively impact energy-heavy stocks' near-term cash-flow expectations.
Meanwhile, gold prices have eased after reaching a seven-week high, with traders taking profits and attention turning to upcoming US inflation data. The Federal Reserve's next interest-rate moves will be closely watched, as they can ripple into the dollar, borrowing costs, and appetite for risk assets.
In the UK, a recruiter survey suggests the labor market may be stabilizing, and the government has announced £130 million in funding to support zero-emission vehicle technologies. This could provide a boost to parts of the industrial and transport supply chain, but company results will also play a significant role in individual stock movements.