FTSE preview: Gloom over commodities
The FTSE 100 is forecast to to shed 7 to 11 points after a rally on Wall Street tailed off before the close.
Worry: Traders will be digesting export data from China
The blue chip index closed up 47.45 points at 5,856.34 yesterday, boosted by a bounceback by miners and solid gains from integrated oil stocks as crude firmed on supply fears.
But sentiment surrounding commodity stocks looks likely to be soured by downbeat data out of China, revealing a slowing of export growth in May.
'Despite yesterday's gains, traders still remain cautious. Overnight trade data from China showed that exports grew less than expected, a sign which many are likely to interpret as weakening global demand,' said Jonathan Sudaria, a dealer at Capital Spreads.
US blue chips rose on Thursday, but ended off earlier highs. Better than expected US trade data offered investors some cause for optimism, but the prevailing mood was cautious after a run of otherwise gloomy data releases.
In terms of domestic economic data, UK April industrial output figures along with UK May PPI data are due later.
Across the Atlantic, US May import and export prices are scheduled for release.
Stocks to watch today include:
GlazoSmithKline: Hong Kong has ordered GlaxoSmithKline to recall a paediatric antibiotic manufactured in France over the presence of a plasticiser in the product, raising safety and quality concerns.
WM Morrison: The food retailer's chief executive Dalton Philips refused to rule the firm out of the £1.5bn race to buy rival Iceland, the Daily Mail said.
Hays: Swiss staffing group Adecco could be lining up a 160p-a-share cash bid for Hays, the Daily Mail's market report said.
Johnson Service Group: Privately-owned shoe repair and key cutting firm Timpsons could be readying a move for Johnson Service Group according to blog rumours, The Guardian's market report said.
Southern Cross: The care home owner is planning to give up control of 132 care homes as part of a financial restructuring package aimed at saving the group, the Financial Times reported, citing documents distributed to landlords.
Bellway: The housebuilder issues a trading update.
Fuller, Smith & Turner: The pubs operator and brewer reports full-year results.
MP Evans Group: The producer of Indonesian palm oil holds its annual general meeting.
Petroceltic International: The oil explorer holds an extraordinary general meeting.
Most watched Money videos
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- MG unveils new MG3 - Britain's cheapest full-hybrid car
- German car giant BMW has released the X2 and it has gone electric!
- Mini unveil an electrified version of their popular Countryman
- Steve McQueen featured driving famous stunt car in 'The Hunter'
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- How to invest for income and growth: SAINTS' James Dow
- How to invest to beat tax raids and make more of your money
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Iconic Dodge Charger goes electric as company unveils its Daytona
- Anglo American snubs 'opportunistic' £31bn BHP bid
- Greek energy tycoon hails London as premier financial hub...
- SMALL CAP MOVERS: Filtronic shares skyrocket following...
- MARKET REPORT: Google owner's value hits $2,000,000,000,000
- INVESTING EXPLAINED: What you need to know about high...
- SHARE OF THE WEEK: All eyes on Apple with Big Tech...
- BUSINESS LIVE: Anglo American snubs BHP bid; NatWest...
- UK cybersecurity star Darktrace agrees £4.3bn private...
- Is it time to cash in on the GOLD RUSH? Mining stocks...
- Czech billionaire trying to buy Royal Mail takes 20%...
- New private parking code to launch later this year that...
- NatWest follows rivals with profit slump
- I can barely recall 'Tell Sid' share offers of the 1980s...
- Darktrace takeover lands Mike Lynch £300m and chief Poppy...
- ALEX BRUMMER: Darktrace sale betrays whole Cambridge...
- Pearson's boss given a bloody nose as shareholders...
- PWC partners choose another man to become their next leader
- Sitting ducks: Host of British firms are in the firing...