FTSE 100 preview: Shares up; US GDP
The FTSE 100 is seen advancing modestly at the open on Thursday in tandem with gains overnight on Wall Street and in Asia, ahead of US GDP figures which could drive markets.
Watching brief: Traders will digest a number of results today.
Investors have a number of corporate earnings to digest on Thursday, with highlights including full-year numbers from luxury goods group Burberry , hedge fund manager Man Group and utility United Utilities Group .
The UK blue chip index looks set to add 10 to 14 points, or 0.2%, according to financial bookmakers, after climbing 11.73 points, or 0.2%,to 5,870.14 on Wednesday. Reinforcing the bleak outlook for domestic household spending, a survey by the Confederation of British Industry showed that companies in Britain's consumer service sector expect levels of business and profitability to fall more sharply in the next three months.
US stocks firmed on Wednesday as recent underperformers led a thinly traded rally that wasn't seen as strong enough to overcome worries about waning global demand.
Investors were waiting for US preliminary first-quarter GDP, scheduled for release. Expectations are that the economy grew at a still sluggish 2.1% annual rate in the first quarter, according to a Reuters survey, rather than the 1.8% pace estimated last month. US weekly jobless claims are also due. Asian stocks rose on Thursday, boosted by the resources and consumer sectors with recovering commodity prices and a rebound in the euro bringing investors back into the markets in search of bargains.
Virgin Money plans a July bid for Lloyds banks branches, according to reports today.
There will be results today from Burberry Group, Man Group, United Utilities, Daily Mail & General Trust, Helical Bar, London & Stamford Property, Qinetiq and Shanks Group.
Most watched Money videos
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- Mini Cooper SE: The British icon gets an all-electric makeover
- Mail Online takes a tour of Gatwick's modern EV charging station
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Land Rover unveil newest all-electric Range Rover SUV
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- BMW's Vision Neue Klasse X unveils its sports activity vehicle future
- 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
- Leapmotor T03 is set to become Britain's cheapest EV from 2025
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Time to wind back the tourist tax, says Watches of...
- Chevron to sell its oil and gas assets in the North Sea...
- Can we really buy a house with a 1% deposit? DAVID...
- Superdrug unveils plans to open 25 new stores this year -...
- I'm a wealthy aristocrat and we're all ruthless...
- Another stink at United Utilities: Water giant pays £340m...
- BT proves investors wrong as shares soar 17% in boost for...
- HSBC eyes victory in battle to keep its Asian business as...
- GSK completes sale of Haleon shares having raised £3.9bn...
- Turbulence at Easyjet as boss stands down sending share...
- Young drivers can't afford to insure their cars: Number...
- Future shares jump after publisher declares £45m share...
- The future of the Royal Mail is not just a matter for the...
- Stock market chief insists there is a 'strong cause for...
- BUSINESS LIVE: GSK sells Haleon stake; Sainsbury's agrees...
- David Beckham teams up with Hugo Boss to design menswear...
- MARKET REPORT: Dow Jones tops 40,000 as investors bet on...
- Sainsbury's and Microsoft sign five-year artificial...