FTSE 100 Set for Lower Open Amid Tech Sell-Off and Rising Oil Prices
London stocks appear set to open lower on Friday, with the FTSE 100 futures pointing toward a decline of around 40 points. This follows disappointing earnings from major U.S. tech firms like Alphabet and Tesla, which saw their shares fall sharply overnight as investors reacted negatively to increased capital spending and negative free cash flow in Q2. The sell-off is compounded by rising oil prices, with crude hitting $100 a barrel for the first time in months due to renewed geopolitical tensions in the Middle East. Analysts note that Big Tech companies are shifting from being cash-rich entities toward more debt- and equity-dependent models as they invest heavily in AI infrastructure. The FTSE 100 has already fallen by nearly 77 points on Thursday, with further declines expected at open due to global market sentiment.
Tickers: $TSLA
Topics: Big Tech earnings FTSE 100 geopolitical tensions oil prices