FTSE 100 preview: Footsie feeling flat

 

Britain's FTSE 100 is seen opening flat to slightly higher today according to financial bookmakers, as investors take profits from the previous session's hefty gains while remaining cautious ahead of the reopening of US markets after a holiday.

London Stock exchange traders, trader reading the FT

Latest news: Our round up of the action on the markets

The FTSE 100 is seen opening flat to almost 0.1% higher after closing at a fresh 11-month high at 4,933.18 on Monday, spurred by strong gains in confectionery group Cadbury which rejected a $16.7bn bid from US group Kraft Foods.

Wall Street was closed yesterday due to the Labor Day holiday.

Spot gold touched $997.20 an ounce, its strongest since February, with both simmering economic worries and longer term inflation concerns driving gains while gold futures hit $1,000 an ounce for the first time in six month.

On the economic front, UK industrial and manufacturing output figures are due at 09.30am while across the Atlantic, US employment trends in August will be the focus at 15.00pm.

UK stocks to watch today are:

The equipment hire company, Ashtead Group, reports first quarter earnings.

Paper and packaging group DS Smith Plc releases a trading update.