FTSE 100 preview: Shares to rise, retailers in focus
The FTSE 100 is seen opening higher once again today as hopes mount that the global recession could be coming to an end.
High hopes: The Footsie hit a 12-month high yesterday.
The UK blue chip index closed 82.0 points, or 1.6% higher on Wednesday at 5,124.13, its highest close since late September last year, having touched a 12-month peak of 5,131.26 during the session.
The FTSE has rallied 21% this quarter and is on track to post its best percentage quarterly gains since the index was launched in 1984. But it is still down around 5% from a year ago, just before the collapse of Lehman Brothers.
US stocks rose for a third day on Wednesday, hitting fresh 2009 highs in a broad-based rally following data that suggested a stronger-than-anticipated global recovery, while Asian stocks hit their highest level in 13 months on Thursday.
The Dow Jones is expected to add to yesterday's rally with spread markets suggesting a 20 point rise to 9745.
August UK retail sales numbers will be the main domestic macro focus in the UK, with the consensus forecast for a monthly increase of 0.2%, after a 0.4% rise in July, giving an annualised increase of 2.8%, down from 3.3% in the previous month.
Across the Atlantic, August housing starts and building permits will be of interest together with the September Philly Fed index and the latest weekly initial jobless claims, all hopefully adding to the improving economic picture.
Balfour Beatty, the engineering and construction group, is readying a rights issue for as much as £350m to fund an acquisition, the Daily Telegraph reported.
British Airways is interested in UK rival BMI and has spoken with BMI's German owner Lufthansa, the UK flag carrier's chief executive told the Evening Standard.
Also, in a message to BA's 14,000 cabin crew, union leaders said they should 'hold firm' against the airline's attempts to cut their pay and change their contracts, the Times said.
Warren Buffet, a leading shareholder in Kraft, has warned the food group not to overpay for Cadbury, the Times said.
BP has sold its Indian wind farm business to Green Infra Limited for an estimated £57.6m, the Financial Times said.
Fashion brand Burberry will next month launch its own social networking site in a move designed to deepen its relationship with customers and attract new ones, the Financial Times said.
The will be results today from DIY retailer Kingfisher, French Connection, Investec, Centaur Media, Wilmington, DTZ and Neovia.
Most watched Money videos
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Top Gear takes Jamiroquai's lead singer's Lamborghini for a spin
- Land Rover unveil newest all-electric Range Rover SUV
- Mercedes has finally unveiled its new electric G-Class
- Mini celebrates the release of brand new all-electric car Mini Aceman
- Mini Cooper SE: The British icon gets an all-electric makeover
- Mail Online takes a tour of Gatwick's modern EV charging station
- Leapmotor T03 is set to become Britain's cheapest EV from 2025
- A look inside the new Ineos Quartermaster off-road pickup truck
- Introducing Britain's new sports car: The electric buggy Callum Skye
- Blue Whale fund manager on the best of the Magnificent 7
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Top investor throws weight behind Anglo American break-up...
- Sajid Javid eyes job at Shein as the Chinese fast fashion...
- Screwfix owner Kingfisher suffers 'big-ticket' spending...
- The one thing you have to add to your shed to make sure...
- MARKET REPORT: Fresnillo sparkles as gold hits a record high
- South West operator Pennon to hand-out £3.5m in...
- SSP Group shares slump as profits hit by European rail...
- I'm 85 and no longer fit to drive. But when I took my...
- Five magic words you must say to BT if you DON'T want to...
- CVS sells Dutch and Irish vet businesses for just €2
- Now video game giant is buyout target: £2bn deal for...
- Cazoo collapses into administration putting more than 200...
- Would you work from a car office? Ford patent shows how...
- Visa and Mastercard could face transparency crackdown as...
- AstraZeneca targets $80bn in yearly revenues by 2030
- Suits you sir! City slickers smarten up again: Briefcases...
- Bank sets the scene for summer rate cuts as deputy...
- Stamp duty on shares must be axed, says London Stock...