The FTSE 100 index is expected to rise 40 points (0.65 percent) after tacking on 58 points (1 percent) to end the session at 5,939.
Essar Energy (LON:ESSR) led the blue chips on Friday, climbing 5.3 percent. Mining majors Antofagasta (LON:ANTO) and Vedanta Resources (LON:VED) followed, rising 4.3 percent and 3.7 percent respectively. Royal Bank of Scotland (LON:RBS) and hedge fund manager Man Group (LON:EMG) tacked on 3.4 percent.
No blue chip lost 1 percent or more.
US stocks were on the rise on Friday. The Dow Jones Industrial Average (DJIA) climbed 39 points (0.3 percent) to 12,441, the S&P 500 index rose 5.5 points (0.4 percent) to 1,331 and the technology heavy NASDAQ composite added 14 points (0.5 percent) to close at 2,797.
Bank of America (NYSE:BAC) and Johnson & Johnson (NYSE:JNJ) led the DJIA constituents, rising 2 percent. Disney (NYSE:DIS) and Cisco (NYSE:CSCO) each added 1.3 percent. DuPont (NYSE:DD), Hewlett Packard (NYSE:HPQ) and American Express (NYSE:AXP) rose 1 percent.
Intel Corp (NYSE:INTC) and McDonald’s (NYSE:MCD) shed 1.3 percent and 1 percent respectively.
Asian markets were in buying mode today. Japan’s benchmark Nikkei 225 index rallied 185 points (1.95 percent) to 9,689 and China’s Shanghai Composite Index rose 7,5 points (0.3 percent) to 2,714.
Commodities
US light, sweet crude for July delivery advanced to US$101.01/barrel. July Brent crude traded at US$115.15/barrel.
Gold inched lower to US$1,536/oz. Silver and platinum rose to US$38.08/oz and US$1,802/oz respectively.
Base metals were in decline. Copper and nickel fell to US$4.12/lb and US$10.37/lb respectively. Zinc stood at US$1/lb.
Today’s macroeconomic data will include the Chicago purchasing managers index (PMI) and US consumer confidence.