Trading is quiet on the LSE ahead of US inflation

Real estate stocks underperformed yesterday due to concerns over a Swedish property crisis after S&P lowered its rating on Swedish commercial landlord SBBB, sending its stock down 25%, after an 18% decline on Monday. Oil prices continued to drop after data showing a fall in imports in China. The FTSE 100 fell 0.3%.

The index was down 0.2% this morning, with investors trading cautiously ahead of US inflation data due at 12 30 GMT today, which should offer some clues on the Federal Reserve's future monetary policy.

The biggest focus will be on whether core prices fall back after last month’s slight increase.

Among stocks, Aerospace company Melrose Industries is up 4.3% after saying that sales are exceeding expectations.

Meanwhile, ASOS shares tumbled 10% after posting disappointing results.

 

Things to read today:

US banks generated record first-quarter profits despite turmoil (Financial Times)

ChatGPT Is Causing a Stock-Market Ruckus (WSJ)