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FTSE 100 tipped for early gains after uninspired Monday

Published: 15:41 16 Sep 2014 AEST

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FTSE 100 is tipped to open higher on Tuesday after an uninspired Monday as investors await key events.

It comes after a mixed picture from New York overnight - with the benchmark Dow closing 43 points to the good, but the Nasdaq retreating 49 after promising gains in early deals. The S&P500 closed down two points.

Meanwhile, in Asia, stocks were mainly lower as jitters increase over tomorrow's Fed policy meeting in the US, and concerns over an interest rate rise that could come sooner rather than later.

Also sparking the decline in stocks was data, which showed industrial growth in China fell to a new level since 2008.

Also in focus is the Alibaba mega float next week, which is set to become the biggest IPO ever and   

The Chinesee online retailer is set to raise US$25bn from the New York float and the price target has been lifted from the planned $60-$66-per-share to $66-$68.

The price of the float should be revealed soon.

The London index of leading shares closed Monday uninspired - down a tad - 0.04% to 6,804 but today spreadbetters at IG Index are calling it to open around 14 points higher.

There are a clutch of small cap announcemnents out today, but ASOS (LON:ASC), the online clothing retailer and AIM’s most capitalised stock likely to be the big draw.

It is expected to reveal more detail on its trading performance.

On the macro front, invetsors can expect the Bank of England quarterly bulletin and in Europe, it's the ZEW survey of economic sentiment.

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