FTSE 100 preview: Miners to push shares higher
The FTSE 100 is expected to open higher on Friday, rebounding from the previous session's losses with stronger commodity prices seen supporting resource-related shares.
Friday feeling: Shares could rise today.
The blue-chip index closed 74.43 points lower, or down 1.4%, at 5,267.70 on Thursday in the third straight session of losses. The index is down 0.5% so far this week, on track for the first weekly fall in three weeks.
Shares in New York are expected to fall slightly on opening with spread betting firm Cantor calling a 4 point fall in the Dow Jones to 10,323.
Mining FTSE 100 companies are expected to benefit from stronger metals prices, while a rise in crude oil prices towards $78 a barrel is expected to lift energy firms.
Weakness on Wall Street overnight and in Asia are seen capping some gains on the FTSE 100. Trading is expected to be subdued with no UK economic data is set for release and a lack of major companies reporting.
Across the Atlantic, data to be released include the Economic Cycle Research Institute's Weekly Leading Index, a measure of future US growth.
On the economic front, Britain has got to get a grip on its public finances, but so far there is little to choose between both main parties' deficit-reduction plans, the head of the Confederation of British Industry told Reuters.
Legal & General, the UK's third-largest insurer, is set to appoint former Barclays chief executive John Stewart as its new chairman, The Times newspaper reported.
More consolidation will hit the solar power industry next year, the chief executive of BP Solar, a unit of BP Plc, told Reuters on Thursday.
Burberry has applied for government clearance to launch a joint venture with Indian fashion retailer Genesis Colors. Burberry is hoping that it can match in India the growth it has achieved in China, the Times newspaper reported.
Trinity Mirror teamed up with the Press Association and Ten Alps, the television producer, to bid for the chance to make an ITV regional news bulletin for North East, the Times reported.
Five major private equity groups are among the first-round bidders for discount retailer Matalan which is being auctioned with an estimated price tag of about £1.5bn. TPG, Blackstone, Warburg Pincus and BC Partners have submitted indicative bids for the privately-owned Matalan, the Financial Times reported.
Fuller, Smith & Turner reports first-half results.
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