FTSE preview: Shares up on US jobs hope
The FTSE 100 is expected to gain today, extending its winning streak into a sixth straight session, as investors shifted their attention away from geopolitical concerns.
Taking stock: Investors have shrugged off global fears.
The UK blue chip index was expected to rise 32 to 35 points, or as much as 0.6%, according to financial bookmakers, after it closed 27.68 points, or 0.5%, higher at 5,932.17 on Tuesday.
The FTSE 100 index is slightly up on the year, with some of the gains seen in February erased by worries over the euro zone debt crisis, political turmoil in the Arab world and the aftermath of the earthquake in Japan.
In terms of domestic economic data, March's CBI distributive trades report is due.
'Traders remain bullish, managing to shrug off European downgrades, negative housing and consumer confidence data in the US and ongoing concerns in the Middle East and Japan,' Jonathan Sudaria, a dealer at Capital Spreads, said.
'Part of the optimism could be related towards this week's non-farm payroll data, as traders begin to position themselves for a positive number.'
With the market focused on Friday's US March non-farm payrolls report, March's Challenger Layoffs numbers and ADP National Employment survey will give an idea of the jobs situation across the Atlantic.
Ex-dividend factors will knock 4.4 points off the FTSE 100 index on Wednesday, with Anglo American, British Land, British Sky Broadcasting, Eurasian Natural Resources, Prudential and Smiths Group all trading without their payout attractions.
Chinese offshore oil producer China National Offshore Oil Corp is to buy the British-based Tullow Oil's interest in some exploration areas in Uganda.
BHP Billiton has moved into the feasibility study stage of preparing a long-awaited expansion of the Olympic Dam copper and uranium mine in South Australia.
Intercontinental Hotels said it is revamping its loyalty programme to compete more effectively with online travel agencies that charge the company for reservations.
Talk late on Tuesday that exploration company Hardy Oil and Gas could be subject of a bid from one of the majors pushed its shares up sharply, the Daily Mail market report said.
There will be results today from Bellway, Charles Taylor Consulting, Churchill China, Ceres Power, Domino's Pizza, Moss Bros, Topps Tiles and UK Commercial Property Trust.
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