MARKET PREVIEW

Market Preview is published daily an hour before trading kicks off on the London Stock Exchange, giving investors a roundup of macroeconomic and corporate news that is likely to move the markets along with the expected opening level of the FTSE 100.

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FTSE 100 expected to start week higher as momentum continues

January 21 2013, 6:52am
FTSE 100 expected to start week higher as momentum continues

 

Britain's blue chip index is expected to start the new week higher after Friday's trading session saw it cap a week of advancement.

FTSE 100 closed Friday up 33 points on the week at 6,154 and today is being called to open 17 points up.

The year has started well for the index of leading shares, as it has broken through the significant 6,000 mark and appears to be holding ground there.

News flow picks up later this week after a slow start - the US markets being closed today because of Martin Luther King Day.

But on Wednesday , the US House of Representatives votes on the raising of the debt ceiling, which will give US politicos another chance to hone their brinkmanship skills.

Experts say market attention this week is likely to be focused on Japan and the UK, due to the sharp falls seen in both currencies in the last week or ahead of some key economic events.

Back home this week, Q4 GDP data is due out and is expected to point to continued stagnation, fuelling speculation that the Bank of England may well go for more quantitative easing.

Overnight in Asia, it has been fairly choppy with Japanese shares slipping after surging ahead last week as a two-day policy meeting at the Bank of Japan started.

The Nikkei 225 fell 1.51% at 10,748, while the Hang Seng was down slightly - 0.05%- at 23,588.

On Wall Street, the Dow Jones closed Friday up 0.40% at 13,650.

On the corporate front today among the announcements are expected is one from oil group Afren and in macro news, investors are eyeing German producer prices and a Rightmove house price survey.

 


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