FTSE 100 preview: Banks report; US jobs
The FTSE 100 index is seen rising on Friday with commodities stocks likely to advance on firmer metals and crude prices, as investors awaited key US jobs data.
Friday feeling: Shares are finishing the week strongly.
UK banking stocks will fall under the spotlight on Friday, with trading updates due from both Royal Bank of Scotland and HSBC.
The UK blue chip index looks set to rise 22 to 27 points, or as much as 0.5%, according to financial bookmakers, after it closed at its highest level in nearly 29 months on Thursday, up 113.82 points, or 2%, at 5,862.79.
US stocks extended a rally that started in September to close at two-year highs on Thursday, a day after the Federal Reserve unveiled a plan to boost the economy.
Oil prices rose to a two-year high on Friday as metals prices rallied sharply, with Shanghai zinc jumping 5% and London copper rallying to fresh 27-month highs, as the Fed's move boosted the appeal of commodities in preserving value in an environment of dollar depreciation.
On the domestic economics front, October UK PPI data is due. But the market's main focus will be on US non-farm payrolls, due at 1230 GMT, which are expected to have risen by 60,000 in October, after a 95,000 decline in the previous month, with the unemployment rate seen static at 9.6% month-on-month.
Also scheduled for release on Friday is US September pending home sales data and US September consumer credit data.
Australia-listed Sphere Minerals has rejected a financial proposal from its largest shareholder designed to thwart a $522m takeover by Xstrata.
A senior British member of parliament accused the defence contractor of 'putting a gun to the head' of the British government over an aircraft carrier contract.
There will be updates today from HSBC, Royal Bank of Scotland, Smith & Nephew, Dignity, Rentokil, Unite Group and Carphone Warehouse.
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