FTSE 100: Shares to push higher as British Airways owner IAG posts mammoth £3.8 billion loss

The FTSE 100 is set to open 18 points higher today.

The markets are being driven by a slew of earnings including Natwest Group, IAG, BT and London Stock Exchange Group.

Yesterday European markets fell sharply, posting their worst one-day losses in four weeks, on the back of concerns that the economic recovery over the past few weeks could be on the cusp of running out of road.

Meanwhile in the US, GDP for the second quarter fell by an astonishing 33%.

Michael Hewson, at CMC Markets, said; "This rising uncertainty about the US economy, heading into the upcoming November election also appears to be weighing heavily on the US dollar which has continued to fall heavily in Asia trading, falling to a fresh three year low, against the euro as well as a basket of currencies.

"President Trump’s talk of an election delay probably hasn’t gone down too well either, and while the President has no legal power to change the date of the election, only Congress does, the fact he floated the idea, as well as the lack of progress on a new stimulus deal between Democrats and Republicans, suggests that the US dollar could have further to fall, as the political bickering gets more rancorous."

Coronavirus is continuing to dominate the agenda, amid reports of rising infection rates in Spain, France and Luxembourg, while in the UK some areas of northern England, including Greater Manchester, and parts of West Yorkshire have had restrictions re-imposed due to a sharp rise in cases there.