The British stock market will likely focus on the eurozone debt crisis and an uncertain economic outlook next week in holiday-shortened trade amid a dearth of company news. London's FTSE 100 index lost 0.16 percent over the past week to finish at 5,938.87 points on Friday. The market will reopen for action on Tuesday after a British public holiday on Monday.
"The recent range-bound indices and low volumes suggest that the majority of investors are reluctant to get involved due to the instability of the global economy coupled with the eurozone crisis," said Simon Brown, head of trading firm ProSpreads.
"Next week, being a quiet bank holiday one, may start the drift higher towards the upper end of the recent ranges," he added.
Wolseley, the world's biggest distributor of plumbing and heating products, publishes a trading update on Wednesday, one day before Kingfisher, Europe's biggest home-improvements retailer, gives its earnings numbers.
Comments
Comments are closed for this article.