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FTSE preview: Techs hit by Google; commodities up

By Reuters
Updated: 03:15 EDT, 15 April 2011

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The FTSE 100 is seen edging up, reversing some of the previous session's losses, with commodity-related shares likely to rise.

Friday feeling: Commodity-linked stocks likely to rise

But tech shares may lose ground after Google reported soaring costs.

The blue chip index looks set to rise as much as 13 points, according to financial bookmakers, after it fell to a two-week closing low on Thursday, led by Reckitt Benckiser which announced the retirement of its chief executive.

Gold jumped to another record high on Friday after the dollar fell to its lowest since late 2009 against a basket of major currencies, taking silver to a 31-year high, while inflation pressures in China also helped lift bullion's appeal.

London copper prices trimmed early gains on Friday. China's turbo-charged growth eased just a touch in the first quarter, while its inflation jumped to a 32-month high, putting pressure on the government to do more to rein in prices and keep the economy on an even keel.

Oil also rose, with no clear end in sight to the fighting in Libya that has cut supplies. Volumes were below average on Thursday and traders said caution may continue to prevail, limiting any gains for equities.

'Ongoing concerns about the strength of the US earnings season and the suggestion that Greece may need to restructure its debt are likely to weigh on markets,' Jonathan Sudaria, dealer at Capital Spreads, said in a note.

On Wall Street, stocks on the Dow Jones industrial average and the S&P 500 pared earlier falls to end flat to slightly higher on Thursday.

Google Inc's stunning 54% spending surge in the first quarter spooked investors already worried its new CEO may take his eye off the bottom line to chase revenue growth.

Net income was up on a year earlier, but Google shares slid more than 5% in after-hours trade.

Stocks to watch today include:

Ladbrokes: The bookmaker posts first-half results.

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