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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Investments and investor services

FTSE 100 set for modest gains

Reaction to updates from British Airways owner IAG, lender Lloyds and gas giant BG may determine Footsie's fate.

The party mood is set to continue, albeit in more muted fashion, in London this morning.

Spread betting quotes suggest the FTSE 100 will kick off around 10 points up from last night's close.

US markets were flat yesterday but Asian indices were on course to finish in the blue, offering some encouragement to traders. Japan's Nikkei 225 was 24 points higher at 20,547 in the last hour of trading, while in Hong Kong the Hang Seng was 90 points firmer at 24,588.

The Shanghai Composite was not playing ball, however, with the index off 26 points at 3,680.

In the US, the Dow Jones average and the S&P 500 were little changed, but the Nasdaq Composite shuffled 17 points higher to 5,129, as traders found themselves underwhelmed by US GDP data.

"The report ... confirmed the view set forth by Federal Reserve policy makers yesterday that the economy is 'nearly balanced': consumer consumption increased; the labour market (per claims data) remains tight; and gauges of inflation continue to lag,” said Christopher Vecchio, a currency analyst at DailyFX.

"Accordingly, we’re viewing today’s prints as not a sign that the Fed is step closer to raising rates in September,but it should keep the compass pointed in that direction and keep at least a Q4’15 rate hike on the table ,” he added.

On the home front, the deluge of results from heavy hitters eases off but it is still a busy day for a Friday.

State-controlled lender Lloyds (LON:LLOY) will issue a trading update, with shareholders hoping further provisions for past misdemeanours will either be absent or on a much smaller scale than in the past.

Also reporting are Footsie stalwarts IAG and BG Group.

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