FTSE 100 preview: Metals lead shares
The FTSE 100 index is seen gaining on Monday, recovering in the wake of the previous session's decline, after US stocks closed on Friday off their lows, and with UK energy stocks and miners likely to be supported by firmer commodity prices.
Monday: Shaares are seen rising today.
The UK blue chip index looks set to rise 15-17 points, or as much as 0.3%, according to financial bookmakers, after it closed down 16.01 points, or 0.3%, at 5,195.28 on Friday, its lowest close since July 20, on nagging worries over the sustainability of the economic recovery.
US stocks slipped on Friday, but came off their lows as some investors homed in on positive outlooks in the tech sector and used recent M&A news as an excuse for late-day buying.
No significant domestic economic data is scheduled for release on Monday, but later in the week, investors will look at the first revision of second-quarter GDP on Friday.
Across the Atlantic, with no important economic data due out on Monday, investors will wait for US July existing home sales on Tuesday, US July new home sales on Wednesday, US weekly jobless claims on Thursday, and US second-quarter preliminary GDP on Friday.
Investors in UK-listed mining stocks are likely to keep a close eye on the situation in Australia, where financial markets bet on Monday that inconclusive weekend elections would deliver a change of government, ushering in a new minority conservative rule that would scrap a planned mining tax.
There will be updates today from Petrofac Limited, Amlin, Bovis Homes, Lamprell, Hiscox, Iomart and Kingspan.
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