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Investors eye UK GDP data and Barclays results

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London stocks declined yesterday, led by a slump in the mining sector as oil prices retreated.

According to estimates, the FTSE 100 is set to extend losses today, opening the session 28 points lower at 6,930. The benchmark index will be subdued as investors anticipate lacklustre UK gross domestic product (GDP) data.

UK economic growth is expected to slow in the third quarter amid uncertainty surrounding Brexit. The Office for National Statistics’ preliminary estimate of GDP for the third quarter, due out at 09:30 BST, is expected to show 0.3 per cent growth versus the 0.7 per cent advance in the previous three months. Compared to the same period a year earlier, the figure is projected to fall to 1.5 per cent from 2.1 per cent.

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Paul

The author Paul