3rd Feb 2015 06:59
LONDON (Alliance News) - London stocks are set to open higher Tuesday, taking their lead from a rally on Wall Street Monday, with the main focus likely to be on the latest UK construction Purchasing Managers' Index for January.
IG futures indicate the FTSE 100 to open 5.15 points higher at 6,787.7. The index closed up 0.5% at 6,782.55 on Monday, with oil companies benefiting and travel companies suffering from the stabilisation of the Brent crude oil price above USD50, while data revealed UK manufacturing sector growth remained strong in January.
Wall Street ended higher Monday. The DJIA closed up 1.1%, the S&P 500 ended also up 1.3% and the Nasdaq Composite finished up 0.9%.
In Asia on Tuesday, the Japanese Nikkei 225 closed down 1.3%. Hang Seng trades up 0.3%. The Shanghai Composite is trading up 2.3%.
Brent crude continued to remain significantly above the USD50 mark, and is quoted at USD55.31 a barrel ahead of the market open Tuesday, while US benchmark West Texas Intermediate is quoted at USD49.94 a barrel.
In the UK corporate calendar Tuesday, there are fourth quarter and 2014 results from BP and BG Group, while Aberdeen Asset Management will publish a first-quarter trading statement. In the FTSE 250, online-only grocer Ocado Group will report full-year results, while Talk Talk Telecom Group will issue an interim management statement.
In the economic calendar, UK Halifax House Prices are at 0800 GMT, while the UK Construction PMI is at 0930 GMT. The eurozone Producer Prices Index is at 1000 GMT and US Factory Orders are at 1500 GMT.
By Daniel Ruiz; [email protected]
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
BPOcadoTALK.LADN.LBG..L