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FTSE 100 preview: Footsie remains in the black

By This Is Money
Updated: 03:00 EDT, 27 July 2009

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Britain's FTSE 100 index is seen opening 38-53 points, or as much as 1.2%, higher today, according to financial bookmakers extending the winning run into a record-equalling 11 sessions, tracking gains in Asia on hopes of a further recovery in corporate earnings.

City trader traders stock exchange market

Looking up: The UK blue-chip index has risen almost 11% over the past two weeks

The FTSE 100 index closed 16.81 points higher on Friday at 4,576.61, a 6½ month closing peak and taking its winning run to ten straight sessions.

The UK blue-chip index has risen almost 11% over the past two weeks on reassuring US corporate earnings results and is up 32% since a trough in March.

With no domestic indicators due on Monday, June US new homes sales numbers will be the main macro focus, with the consensus forecast for a rise of 0.36m, up from 0.342m in May.

UK stocks to watch today are:

Publishing group Pearson, set-top box manufacturer Pace, smart metering group Dialight and building and environmental consultancy group WSP all report first-half results.

Plumbing supplies firm Wolseley and National Grid issue trading updates.

Vedanta Resources holds its annual general meeting.

Ryanair, the Irish discount airline, reports first-quarter results.

The telecoms technology firm Filtronic and software and services group Total Systems post full-year results.

Pork supplier Cranswick holds its annual general meeting.

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