London shares started the week slightly up as traders juggled positive US job figures and mixed Chinese trade data.
The FTSE 100 Index rose 7.9 points to 6361 after the job data came in well ahead of hopes on Friday, sparking the prospect of a US interest rate rise in December.
Chris Beauchamp at spread-betting firm IG said: "Combined with a good rise in average hourly earnings, and with Janet Yellen’s Wednesday comments about December being very much a ‘live’ month, we have seen expectations of a rate increase rise markedly."
But latest Chinese trade data showing an 18.8% fall in imports in October and a 6.9% drop in exports tempered the euphoria.
On the markets, investors checked out of Intercontinental Hotels (LON:IHG) after the owner of Holiday Inn and Crowne Plaza denied talk that it was trying to sell itself. Shares fell 108p to 2666p.
Sainsbury's (LON:SBRY) gained 1.5p to 276.1p ahead of half-year results this week tipped to show progress in a tough market.
The supermarket is the second most shorted in Europe, with 15.5% of shares outstanding on loan, according to data firm Markit.
But the retailer's stock surged at the end of September as management guided for a better-than-expected trading year.
Shares in platinum miner Lonmin (LON:LMI) hardened 1.5p or 9.2% to 17.75p as it confirmed a US$407mln rights issue and reported its highest platinum sales since 2007.
Atlantic Coal (LON:ATC) fired up 0.01p to 0.14p after reporting record production and sales from its Stockton mine in Pennsylvania in the US.
MARKET PREVIEW
The FTSE 100 is expected to open its account for the week marginally higher, despite a rather confused and contradictory outlook for the world’s economy.
The US on Friday registered its strongest month for jobs creation, pushing up the likelihood of a rise in US base rates to around 70%.
However, this was counterbalanced by another set of woeful data from China – this time recording the performance of its imports and exports.
Asia’s equity markets summed up the apparent schizophrenia quite nicely.
The Shanghai Composite advanced 2.3% as traders bet that the Chinese authorities would loosen monetary policy further and Japan (up 2%) benefited from a fall in the Yen as it exporters gained momentum.
However the remainder of the region’s stock markets marked time or fell, fearing the fall out of the first hike in US borrowing rates in almost a decade.
In London the UK blue-chip index is slated to advance 15 points to 6,368.83.
Other Markets
Crude Oil: Brent up 0.8% at US$47.80 a barrel.
Gold: 0.4% higher at US$1,092 per ounce.
Currency: Cable 0.12% weaker at US$1.507.