FTSE preview: Shares up on commodity gains
The FTSE 100 is expected to rise with firmer commodity prices set to support heavyweight miners and energy stocks.
Eye on the market: Traders will watch for clues on interest rates.
The blue-chip index was seen gaining around 0.2% after rising 1.3% on Tuesday to close at 6,018.89, its highest level in a week.
Asian and US stocks gained as fears about weaker growth and the Greek debt crisis faded and as commodity prices recovered some of last week's sharp falls.
The Bank of England's closely watched quarterly inflation report containing its latest growth and inflation forecasts is duefollowed by a news conference with governor Mervyn King.
The report may trigger markets to bring forward bets on when the BoE will raise interest rates, despite only minor revisions to economic forecasts contained within it. Currently, a rate rise from a record low of 0.5% is not fully priced in until February.
Figures on Britain's trade balance will also be eyed for clues as to the state of the economy. The deficit has probably widened again in March with the global goods trade deficit forecast at £7.25bn, compared with £6.78bn in February.
British permanent staff appointments via recruitment agencies picked up last month, as did wages, but the rise in hiring confidence was confined to the private sector, a survey suggested on Wednesday. US trade and mortgage data will also be in focus.
Ex-dividend factors will knock 12.02 points off the FTSE 100 index. BP, Inmarsat, Morrison Supermarkets, Randgold Resources, Rexam, Royal Dutch Shell, Sage, Unilever and Whitbread are all losing their payout attractions.
HSBC's biggest bank is looking to slash up to $3.5bn in costs by cutting the scale of its wealth management and retail banking businesses, it said on Wednesday. It said that it has appointed Richard Bennett as group managing director, reporting to Chief Executive Stuart Gulliver.
BHP Billiton said on Tuesday it will move the head office of its diamonds and specialty products unit to Saskatchewan, a move that ties in with the Anglo-Australian miner's plans to develop the world's largest potash mine in the Western Canadian province.
TMX Group will file applications within the next few weeks with Canadian provincial securities regulators seeking approval of a takeover bid from London Stock Exchange, TMX Chief Executive Tom Kloet said on Tuesday.
Press reports cited rumours of takeover interest for Sage, with SAP, mentioned as a bidder at 450p a share or £6bn.
There will be results today from J Sainsbury, FirstGroup and Greggs, while there will be updates from Prudential, John Wood Group, Barratt Developments, Bovis Homes, and Drax Group.
Most watched Money videos
- How to invest for income and growth: SAINTS' James Dow
- Mail Online takes a tour of Gatwick's modern EV charging station
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Land Rover unveil newest all-electric Range Rover SUV
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Mercedes has finally unveiled its new electric G-Class
- Mini celebrates the release of brand new all-electric car Mini Aceman
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- De Beers eyes £4bn London float as Anglo bids to fend off...
- Vertu Motors scores record sales of almost £5bn
- ANOTHER UK tech star is bought by US private equity: KKR...
- My neighbour has started keeping bees. Is there anything...
- Tesco boss pockets £10m in biggest ever pay deal at a UK...
- Compass Group ups guidance thanks to major sporting events
- Experian shares rise sharply as credit data giant lifts...
- Leapmotor is the next new Chinese car brand coming to...
- BUSINESS LIVE: Burberry hit by luxury slowdown; Imperial...
- MARKET REPORT: Vodafone shares rally as investors cheer...
- Hundreds of jobs at risk as Anglo slashes funding for...
- Royal Mail's future hanging in the balance as bid...
- Axe stamp duty on British shares, says Flutter boss as...
- Golden Virginia owner Imperial Brands bolstered by higher...
- Czech billionaire Daniel Kretinsky ups bid for Royal Mail...
- Scottish Widows gave my ex-wife £8,000 from my pension -...
- My top tips to avoid getting stung in a divorce, by money...
- The age you can access work and private pensions will...