8th May 2015 06:01
LONDON (Alliance News) - UK stocks are set to open sharply higher on Friday as the Conservative party closes in on an effective majority in the UK election. The pound to also set to rise.
IG says futures indicate the FTSE 100 to open up 97.5 points at 6,984.4. The index slipped 0.7% to 6,886.95 on Thursday as equity markets reacted to a sell off in bond markets, particularly German bunds.
The pound rose to a high of USD1.5523 against the dollar overnight, its highest level since the end of February.
On Wall Street Thursday, the DJIA ended up 0.5%, the S&P 500 closed up 0.4% and the Nasdaq Composite ended up 0.5%.
In Asia Friday, the Japanese Nikkei is trading up 0.7%, the Hang Seng is up 0.5%, and the Shanghai Composite is up 0.1%.
In the UK corporate calendar, oil and gas producer BG Group issues first quarter results. Rolls-Royce Holdings, InterContinental Hotels Group, BBA Aviation, Man Group and Laird all release interim management statements.
In the economic calendar, German industrial production and trade balances data is at 0700 BST, ahead of UK trade balances data at 0930 BST. Later in the day, investors' attention will be firmly focused on US nonfarm payrolls, wage and unemployment data at 1330 BST.
By Neil Thakrar; [email protected]; @NeilThakrar1
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
InterContinental HotelsManLairdRolls-RoyceBG..L