The FTSE 100 is set for a conditional launch on Tuesday as UK homes strain their belts ahead of the festive season.
With Christmas just around the corner, shoppers are showing caution, which could weigh on the London indicator in the coming days.
UK Shoppers Pull Back as Confidence Falls
New Numbers from Barclays reveal that card spending in November fell 1.1% compared with the same month last year, the steepest drop since February 2021.
The decline reflects restrained consumer sentiment, as homes cut back on gleeful purchases amid rising living costs.
London’s blue-chip shares slipped nearly 22 points on Monday, closing at 9,645.09, with futures suggesting a conservative open, down by just one point.
Global Markets Mixed as Wall Street Stumbles
Overnight, Wall Street’s recent winning streak ended. The Dow Jones fell 0.45%, the S&P 500 eased 0.35%, and the Nasdaq slipped just over 0.1%.
In Asia, Hong Kong’s Hang Seng dropped 1.1%, while mainland Chinese and Indian indicators were down 0.3% – 0.4%. Japan’s Nikkei managed a slight gain of 0.1%.
Judges are watching UK consumer spending closely, as weaker pre-Christmas purchases could impact company earnings and the broader stock market.
The coming weeks may give a clearer picture of how homes are navigating rising costs and how this will impact the FTSE 100 and other London-listed shares heading into the new year.
