FTSE preview: M&S to set pace for retailers
The FTSE 100 index was expected to open higher on Wednesday, with heavyweight mining shares seen supported by stronger metals prices and as gold hovered near a lifetime high.
Eye on the market: Traders will watch the retailers today.
Retailers will also be in the spotlight, with a Marks and Spencer trading update expected to show its first fall in underlying quarterly sales in six quarters, as customers feel the pinch from austerity measures.
The blue-chip index looked set to gain 13-20 points, or as much as 0.3%, according to financial bookmakers, after falling 0.2% to 6,007.06 on Tuesday.
Trading on the London market was expected to be cautious as traders awaited a policy decision from the Bank of England (BoE) on Thursday.
The BoE's Monetary Policy Committee has been split in recent months about whether to raise interest rates, with a majority keen to gauge the strength of the recovery in the first quarter before acting. Only one of 67 economists polled by Reuters expected the BoE to raise rates this Thursday.
Ex-dividend factors will knock 0.96 point off the FTSE 100 on Wednesday, with Pearson and Wolseley trading without their payout attractions.
There are trading updates today from Marks & Spencer, Easyjet, Misys and Robert Walters.
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