FTSE 100 preview: Miners to lead gains
The FTSE 100 index was seen opening higher, tracking modest gains on Wall Street and in Asia, with commodity issues expected to remain in demand as metal and crude prices hold firm.
Market watcher: London shares will follow the US higher.
The blue-chip index closed 51.50 points, or 0.9%, higher on Wednesday at 5,969.21, bouncing back after losses in the previous session as commodity issues rallied on renewed optimism on the global economic outlook.
On Wall Street on Wednesday, the S&P 500 closed at a 29-month high led by gains in tech and commodity shares, while Asian stocks rose on Thursday after US Federal Reserve policymakers voted unanimously to maintain a $600bn bond-buying plan to fuel economic recovery.
While the outcome of the Fed meeting was largely expected, it backed the view that a wave of liquidity seeking higher returns would continue to flow through into riskier assets.
A big batch of corporate earnings will be the main focus on Wednesday, including numbers from AstraZeneca and BSkyB in London, while figures from industrials group Caterpillar, and household products giants Colgate-Palmolive and Proctor & Gamble should be the highlights during the New York session.
After Wall Street's close, software giant Microsoft, and internet retailer Amazon.com will both release fourth-quarter earnings.
The only British economic data due for release on Thursday will be January's CBI distributive trades report.
Across the Atlantic, US December durable goods orders and the latest weekly jobless claims will be released with December pending home sales due.
In a busy corporate session, there will be updates today from Astrazeneca, BSkyB, Cairn Energy, Tullow Oil, Kazakhmys, Vedanta, Lonmin, Petropavlovsk, Mitchells & Butlers, Britvic, Eaga and Great Portland Estates.
Reader service: Free brochure guides
Completely free insider guides on the latest investing trends...
Most watched Money videos
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Fiat pledges to cease grey car production as they launch new EV
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- How to invest for income and growth: SAINTS' James Dow
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Mercedes has finally unveiled its new electric G-Class
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Land Rover unveil newest all-electric Range Rover SUV
- Blue Whale fund manager on the best of the Magnificent 7
- Mini Cooper SE: The British icon gets an all-electric makeover
- Volvo's Polestar releases new innovative 4 digital rearview mirror
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Ford confirms it will cull another of its best-selling...
- BA owner IAG profits climb more than sevenfold
- Bailey pulls his punches on interest rates yet...
- BUSINESS LIVE: UK GDP grows 0.6%; IAG profits take off;...
- BBVA goes directly to shareholders as it steps up bid for...
- Bank of England paves way for Britain to cut interest...
- Cameron left red-faced as Greensill sues Government over...
- Will my newly self-employed husband cause us a remortgage...
- How criminals could use AI to scam Britons - and what can...
- My uncle has £14,000 in Dart Charge fines despite trying...
- ITV hopes for summer ad boom as it continues to reel from...
- Vodafone told to boost security as £15bn Three merger is...
- MARKET REPORT: North Sea giant Harbour closes in on £9bn...
- Takeover target Wood Group hit by slump in revenues as...
- The truth about where those Omaze millions really go:...
- Mortgage rates are climbing again - should we be worried?...
- Two in five believe ovens will become obsolete as the air...
- Private chauffeurs, spa days and more independence: How...