London shares are set to trade sharply higher with the markets expected to continue to react positively to a seemingly negative nugget of US data released last week.
A weaker than expected monthly jobs number suggests the potential for an immediate interest rate rise Stateside has receded somewhat given the country’s fragile economic position.
With the Chinese markets close until Wednesday, equities in the region were a little more stable, posting decent gains after those US non-farm payrolls numbers.
The Japan’s Nikkei 225 index was up 1.7% gain, in Australia the ASX was raced ahead 1.9%, while Korea’s Kopsi was a more modest 0.5% higher.
Here in the UK the FTSE 100 is set rise around 100 points on opening to 6,229.98, according to the spread betting firm, IG.
This week it is the turn of the Bank of England to opine on interest rates, although the experts are predicting no change.
Australia and Japan also decide on monetary policy over the coming days, while the US Federal Reserve, whose every word has been scrutinised in minute detail, is set to publish the minutes to its last meeting.
Despite the aforementioned jobs data form the US, it is still expected the Fed will ratchet up interest rates at some point this year.
“If they didn’t enough already, central banks are set to dominate this week’s market focus,” said Japser Lawler of CMC Markets.
Back to the UK and corporate news, which after the unseemly last minute rush to file accounts by last week’s deadline, looks a little thinner on the ground.
Tesco (LON:TSCO) is probably the most interesting of those reporting and its interims on Wednesday will be scrutinised for signs of recovery for the UK’s largest grocer.