FTSE 100 preview: Footsie breaks losing streak

 

Britain's FTSE 100 index is seen opening 26-31 points or 0.6% higher today by financial bookmakers, reflecting a rise in the US on Friday after data showing employers shed fewer jobs last month than expected, and after a strong showing in Asia.

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The UK blue chip index closed up 54.95 points, or 1.2%, at 4,851.70, posting its biggest percentage gain in two weeks as it snapped a three-session losing streak.

Optimism over the health of the world's largest economy was driven by data showing US non-farm payrolls fell by 216,000 in August, fewer than a forecast of 225,000 job losses. The unemployment rate, however, rose to 9.7%.

Trade could be relatively subdued given today Labor Day holiday in the US.

No significant domestic data is due for release today.

Later in the week, investors will look at the Bank of England's latest announcement on interest rate policy, scheduled for midday on Thursday - although the expectation is that there will be no change in policy, either on interest rates or quantitative easing.

UK stocks to watch today:

Associated British Foods hotel and restaurant group Whitbread issue trading updates.

Full-year results come from software provide Kofax and healthcare IT company Craneware

Goals Soccer Centres operator posts first-half results.