Stocks in London are set to open slightly lower on Thursday following a disappointing inflation reading on Wednesday and in-line wage growth the day before. Moreover, the fractious nature of Westminster politics has taken its toll this week and for this reason the FTSE100 has underperformed its European peers. Looking ahead to the rest of the day, we have the UK retail sales figures due later in the morning. In the economic calendar also today are the initial jobless claims in the US which may also have an impact on world indices. In political news, UK Brexit Secretary is holding talks in Brussels with the EU's chief negotiator on the withdrawal strategy. Any positive news out of Brussels today might push the FTSE higher.
From a technical perspective, the FTSE100 is expected to trade just like yesterday in a slow and steady manner today.
However, a positive retail sales figure, or positive political news out of Brussels might cause the index to push slightly higher towards the 7705 resistance level.
Support: 7570 7500
Resistance: 7705 7777