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
- Iconic Dodge Charger goes electric as company unveils its Daytona
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- How to invest to beat tax raids and make more of your money
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- MailOnline asks Lexie Limitless 5 quick fire EV road trip questions
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- Mini unveil an electrified version of their popular Countryman
- 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
- Mini celebrates the release of brand new all-electric car Mini Aceman
- The new Volkswagen Passat - a long range PHEV that's only available as an estate
- Should you really pay as much as possible into your...
- UK investors pour cash into US equities, data shows
- Ajay Banga vows to build better World Bank: But is he the...
- Extending the windfall tax could drive Shell across the...
- Russian energy giant Gazprom sees gas sales more than...
- UK GDP growth will be second-worst of all G7 nations in...
- Lab-grown diamonds add sparkle to Pandora profits as it...
- Standard Chartered beats profit estimates as higher...
- Novo Nordisk can't keep up with demand as sales of its...
- I had tickets for a gig at Manchester's Co-op Live but it...
- Apple reports 4% fall in quarterly sales as it suffers...
- Hiscox reports rise in premiums - but warns of 'moderate'...
- Major mortgage lender ups rates for second time this week...
- Melrose Industries enjoys strong engine sales as revenue...
- MARKET REPORT: Cheers! Nightcap in talks to buy...
- BHP boss in South Africa to drum up support for takeover...
- Is the Ferrari 12Cilendri the last of its V12s? It...
- Peloton boss Barry McCarthy throws in the towel as...