3rd Mar 2015 06:59
LONDON (Alliance News) - London shares prices are set to open higher Tuesday, as the Reserve Bank of Australia has kept its interest rates on hold against market expectations.
The monetary policy board maintained the cash rate at 2.25% after lowering it by 25 basis points last month, and some economists had expected the bank to lower rates further this month.
IG futures indicate the FTSE 100 to open 1 point higher at 6,941.6. The index closed down 0.1% at 6,940.64 on Tuesday, with weak oil prices weighing in the blue-chip index, having touched a new record intraday high of 6,974.26 after British manufacturing activity was reported to be the strongest in seven months.
Wall Street ended higher Monday. The DJIA, up 0.9%, and the Nasdaq Composite, up 0.9%, reached new record closes. The S&P 500 ended up 0.6%.
In Asia on Tuesday, the Japanese Nikkei 225 closed down 0.1%, and the Hang Seng trades down 0.4%. The Shanghai Composite is trading down 2%.
Brent crude is quoted at around USD60.47 a barrel Tuesday, and US benchmark West Texas Intermediate is quoted at USD49.98 a barrel. Gold is quoted early Tuesday at USD1,209.04 an ounce.
In the economic calendar Tuesday, German retail sales are at 0700 GMT, while UK construction PMI is at 0930 GMT. Eurozone producer prices are at 1000 GMT. In the US, Redbook index is at 1350 GMT, and ISM New York index is at 1445 GMT.
In the corporate calendar Tuesday, Barclays, Glencore, Direct Line Insurance Group, Clinigen Group, Ashtead Group, Costain Group, Impellam Group, Breedon Aggregates, Devro, Jardine Lloyd Thompson, James Fisher & Sons, Laird and Moneysupermarket.com Group release full-year results. Johnson Service Group provides first-quarter results, and Stagecoach Group issues an interim management statement.
By Daniel Ruiz; [email protected]
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BarclaysCLIN.LDirect LineDVO.LSGC.LCostainBreedonGlencoreLairdJames Fisher and SonsJohnson ServiceMoneysupermarket.ComAshtead GroupIPEL.L