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London pre-open: Stocks seen down as Apple, Amazon underwhelm
(Sharecast News) - London stocks were set to fall at the open on Friday following underwhelming results overnight from Apple and Amazon. The FTSE 100 was called to open 47 points lower at 7,026.
CMC Markets analyst Michael Hewson said: "With everything that has gone on over the last 12 hours and the mixed finish yesterday in both Europe and the US and the reaction to last night's numbers from Amazon and Apple, today's European open looks set to be a negative one.
"With earnings and guidance misses from the likes of Alphabet, Microsoft and Meta Platforms continuing to implode there was a hope that Amazon and Apple would come riding over the horizon to the rescue.
"As far as Amazon was concerned this turned out to be a vain hope as the stock face planted after hours, after guiding lower on its Q4 numbers, and missing expectations on Q3 net sales."
In UK corporate news, British Airways owner IAG said it had swung to a third-quarter profit as airline travel continued to recover from the Covid pandemic and despite the travel chaos at London's Heathrow last summer.
The company posted an operating profit of €1.2bn compared with a loss of €452m a year ago. It said it now expected an annual profit of €1.1bn.
NatWest said it had continued to deliver a strong financial performance in the third quarter despite operating in a "challenging environment".
NatWest posted a third-quarter attributable profit of £187.0m and a return on tangible equity of 2.9%, as well as a "robust balance sheet" with strong capital and liquidity levels.
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