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FTSE 100 to make more gains as results flood in

Published: 06:46 29 Jul 2015 BST

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In the UK, earnings season is in full swing.

More gains are predicted for the FTSE 100 when trading gets underway after earnings gave the US a boost overnight.

Financial spread bet firms expects Footsie to added more than thirty points in early dealings to follow the 55 points gain to 6,555 yesterday.

Sentiment later on will be dominated by the latest US Fed meeting where it is widely expected that a nod towards the long –anticipated higher interest rates will be forthcoming.

In the UK, earnings season is in full swing and there will be a deluge of results and updates over the next two days.

Highlights today include Sky, Barclays GlaxoSmithKline but the list is long. UBS expects Sky to produce underlying profits of £1.38bn, but how it is faring in its battle with BT for broadband customers will also be keenly watched.

US markets rose despite the ongoing pre-occupation with interest rates. The Dow Jones Industrial Average jumped 189 to 17,630 with similar gains for Nasdaq and the S&P 500 as well.

Social media giant Twitter dominated after hours news as revenues and earnings came in well above forecasts at US$502mln and US$0.07 respectively.

Investors, though, focused on user numbers, which missed expectations.

Shares initially jumped in after hours trading as investors seemed to be reassured that the dust is starting to settle following the resignation of chief executive Dick Costolo earlier this year, but that enthusiasm soon dissipated leading to a more than 10% drop later.

Elsewhere, Ford was in demand after second quarter income jumped by 44%.

Asian markets were more subdued with modest losses gain in China and declines in both Tokyo and Hong Kong. 

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