FTSE 100 preview: Shares to continue rise
The FTSE 100 index is seen opening up on Friday, extending the previous session's advance in tandem with overnight gains on Wall Street and in Asia as commodity prices pushed ahead.
Friday feeling: Traders head for the weekend on the back of gains this week.
The UK blue chip index closed 32.50 points, 0.6% higher on Thursday at 5,955.99, adding to a strong rebound on Wednesday after a five-session losing streak, with energy issues and banks in the vanguard of the advance after commodities trader Glencore made its debut on Thursday.
US blue chips gained 0.4% on Thursday, also rebounding further after recent losses, with social networking group Linkedin making a strong market debut, more than doubling in price.
Asian equities carried on the improving picture for the markets on Friday, with Japan's Nikkei ending higher as the Bank of Japan kept interest rates on hold at the end of a two-day policy meeting despite warning that the economy will remain under strong downward pressure for the time being.
Commodity prices recovered in Asian trade, with copper up 0.3%, while oil also rose after falls on Thursday, with heavyweight miners and energy issues likely to benefit in London.
No important economic data is due for release in the UK or the United States on Friday.
'US jobless figures came in better than forecasted yesterday and helped lift markets but with no significant releases today, equity markets are set to stay within range ending the week positively and quietly as they await the weekend,' said Hamzeh Ajjour, a dealer at Capital Spreads.
Royal Dutch Shell said on Friday it has approved a final investment decision in Australia's Prelude floating liquefied natural gas (LNG) project.
British banks must stick to lending to small businesses or face extra taxes, Business Secretary Vince Cable said, as five of the main banks launched a £2.5bn equity fund to back growing companies, The Daily Telegraph said.
Rumours of a £7.8bn or £20 a share bid swirled around Smiths Group, according to the Daily Mail market report, with private equity firm Apax and 'friends' mooted as potential suitors.
There will be results today from Scottish & Southern Energy, Mitchells & Butlers and Future.
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