FTSE preview: Shares up ahead of GDP data
The FTSE 100 is expected to rise again on Tuesday as confidence on US corporate earnings returned and with key UK growth data awaited.
Market watcher: GDP data will set the agenda today.
Britain's blue chip index is seen rising around 0.4% after it added 0.8% on Monday to close at 5,943.85 points.
Investors will watch British growth data for the fourth quarter for more clues on the economic outlook and the prospects for interest rate rises, with rates currently at a record low of 0.5%.
Economic growth is likely to have slowed in the final three months of last year with growth for the quarter forecast at 0.5%, down from 0.7% for the third quarter.
The harshest winter in a century is likely to have made a huge dent to construction output - a key driver of growth in the preceding two quarters - and service sector activity is also likely to have taken a hit.
A weak figure will reinforce concerns about whether the economic recovery will be sustained in 2011 when the government accelerates a programme of deep public spending cuts.
The Bank of England's Monetary Policy Committee now needs to focus on its main inflation objective, and not worry too much about trying to forecast growth, BoE policymaker Andrew Sentance said on Monday.
In the United States on Monday, the Dow Jones industrial average ended 0.9% higher, bolstered by a share buyback from computer firm Intel, while Japan's Nikkei 225 gained 1.2% on Tuesday.
Stuart Gulliver, HSBC's new chief executive, has dropped plans to relocate to Hong Kong and will stay in London, the Financial Times said on Tuesday.
Philips' Chief Executive Gerard Kleisterlee is seen as the favourite to become the next chairman of Vodafone, the Financial Times said on Monday.
BG Group is to invest $10bn in Brazil over the next decade as it seeks to accelerate the development of the country's deepwater oil fields, the Daily Telegraph reported.
GlaxoSmithKline said a Triad group recall had been initiated due to concerns of potential microbial contamination of alcohol products but said the recall did not affect actual Arixtra.
Premier Foods is in advanced talks to sell its canning operations to Princes, part of Japan's Mitsubishi Corporation, the Financial Times said on Tuesday.
There will be updates today from Misys, PZ Cussons, Intermediate Capital Group and Games Workshop.
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