LONDON, Oct 22: The British stock market will next week hope to end in positive territory for the first time in a month, as a clutch of heavyweight companies publish third-quarter earnings.
The FTSE 100 index of leading London shares closed at 5,142.1 points on Friday, shedding 2.52 per cent or 132.9 points from the previous week.
The FTSE has slumped by 6.53 per cent since October 4 when it reached 5,501.5 points — the highest level since August 2001.
But recent concerns about higher inflation and interest rates in the United States have wiped out gains won the back of merger news and strong interim corporate results.
Whether we are going to see a turnaround next week is a difficult question, said Barclays Capital analyst Henk Potts.
But he added: We still believe the FTSE is going to finish at around 5,550 points at the end of the year, getting back to the most recent highs.
Anglo-Swedish pharmaceuticals giant AstraZeneca and British peer GlaxoSmithKline publish results statements on Thursday, the same day as British health and beauty retailer Boots.—AFP
