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FTSE 100 to open higher on Thursday

Published: 15:57 24 Apr 2014 AEST

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Britain’s top share index is set to start on the front foot on Thursday as earnings from Silicon Valley-based tech giants Apple and Facebook outstripped Wall Street’s expectations.

Spread betters are tipping the Footsie to open around 15 points higher, having finished Wednesday at 6,674.

It follows some sterling quarterly figures from gadget maker Apple and social network giant Facebook.

The former has approved another $30bn in share buybacks until the end of 2015 and gave the go-ahead to an unusual seven-for-one stock split, which will allow private investors to buy more shares.

Activist investor tweeted his approval, having famously urged the iPhone and iPad maker to boost its buyback programme.

The group sold 43.7mln iPhones in the first three months of 2014, way above the 38mln analysts were expecting.

Facebook meanwhile continued to show that mobile is the way forward and that it is finding a way to harness its increasing influence.

Mobile ads accounted for 59% of ad revenues. Overall revenues grew 72% to $2.5bn, above the $2.36bn anticipated by Wall Street.

There are important earnings out in the UK today from AstraZeneca (LON:AZN), fresh from a reported £60bn bid from Pfizer, and consumer goods giant Unilever (LON:ULVR).

Barclays’ AGM is also likely to hit the headlines over the bank’s controversial pay packet for bosses.

 

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