FTSE 100 preview: Shares up; UK debt due
The FTSE 100 is seen opening up 4-12 points after strong gains in the previous session, though moves are seen muted as investors await the outcome of a US Federal Reserve policy meeting, due after UK markets close.
Watching brief: Investors will watch public sector borrowing data.
The blue-chip index is seen gaining as much as 0.2% after it jumped 1.7% on Monday to close at 5,602.54, its highest since late April.
The Fed may discuss whether a shaky US economy needs a fresh infusion of cash, and although an easing is thought to be unlikely, there is an expectation that it will signal its readiness to act if necessary.
'Once again the fears of a double dip continue to ebb and even if the Fed does look to renew stimulus measures, consensus appears to be that this would be seen as positive by the market as a whole,' Ben Potter, market strategist at IG Markets in Melbourne said in a note to clients.
Domestically, investors will watch public sector borrowing data for August, for more clues on the state of Britain's public finances and prospects for a steady recovery.
Analysts point to technical support for the index near current levels. 'Despite a near-term pullback through the support of an intraday Rising Wedge, expect the bulls to support the FTSE between 5,589 and 5,607,' Raghee Horner, Autochartist chief market analyst said in a note.
BHP Billiton's $39bn battle to take control of Canada's Potash is expected to drag on into next year after it failed to win immediate backing from Canadian authorities.
Potash Corp said on Tuesday it still believed BHP Billiton's $39bn takeover offer substantially undervalued the company.
BP, which permanently sealed its ruptured Gulf of Mexico well this weekend, said on Monday it is joining the industry's $1bn effort to contain future subsea oil spills.
Minera Andes said on Monday it resolved a dispute with its partner Hochschild Mining over the repayment of loans for financing their San Jose joint venture in Argentina, sending the Canadian company's shares to a 26-month high.
British social housing maintenance company Mears is in the hunt to pick up more contracts previously held by stricken rival Connaught and pursue acquisitions, chairman Bob Holt said.
Tesco, the world's No. 3 retailer, plans to launch online shopping in China, the Czech Republic and Poland, its incoming chief executive told the Financial Times on Tuesday.
Barclays Capital, Barclays' investment banking arm has hired Sandeep Pahwa from Deutsche Bank as its new head of investment banking for Southeast Asia, sources said on Tuesday, as the British bank builds a deal-making team in the region.
Mongolian Prime Minister Sukhbaatariin Batbold said on Monday the London Stock Exchange is the front-runner in a bid to manage a new local stock exchange, expected to be up and running by year-end.
There will be updates today from JD Sports, Minerva and Wilmington Group.
Most watched Money videos
- German car giant BMW has released the X2 and it has gone electric!
- How to invest to beat tax raids and make more of your money
- Would you retire abroad for cheaper living costs?
- MG unveils new MG3 - Britain's cheapest full-hybrid car
- Iconic Dodge Charger goes electric as company unveils its Daytona
- Aston Martin unveils new Vantage sports car capable of 202mph
- Pair of rare 1980s Ford Sierra RS500 Coswotths head to auction
- Mini unveil an electrified version of their popular Countryman
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- Steve McQueen featured driving famous stunt car in 'The Hunter'
- Dacia Spring is Britain's cheapest EV at under £15,000
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- Four in 10 mortgages are being taken out by borrowers who...
- BUSINESS LIVE: Crypto fraudster SBF handed 25-year prison...
- MARKET REPORT: Carnival set for record year as bookings boom
- Commodities broker Marex Group snubs City as it files...
- H&M profits spring back to life as it seeks to fight off...
- D-day for crypto wunderkind who crashed to earth: Sam...
- Debt fuelled deals are bringing great British firms...
- Insurers are STILL stinging drivers by undervaluing...
- Thames Water shareholders refuse £500m lifeline plea
- Competition watchdog clears Aviva's £460m acquisition of...
- Insurance market Lloyd's of London toasts best result 'in...
- Spirent ditches Vivai as Keysight gatecrashes deal with...
- My blood boils when I hear critics say Waspi women should...
- Trader Tom Hayes vows to fight on in bid to clear his...
- Americans crashing Mondi bid for DS Smith plot UK listing...
- William Hill owner 888 agrees to flog assets as it...
- AO World shares surge as online retailer electronics...
- My friends say I'm a shopaholic but I'm 34, single and...