The FTSE 100 is projected to start with a 0.2% gain today after advancing 0.8% on Friday to trim its weekly loss to 0.1%.
Oil and gas producer BG Group (LON:BG) led the blue chips with a 4.5% climb. Chipmaker ARM Holdings (LON:ARM) and oil and gas supermajor BP (LON:BP) added about 3%. Platinum miner Lonmin (LON:LMI) and oil and gas producer Tullow Oil (LON:TLW) tacke don just over 2.5%. Capital Shopping Centres Group (LON:CSCG) rose 2.5%.
Credit information group Experian (LON:EXPN) was the heaviest faller with a 2.7% loss. Temporary power provider Aggreko (LON:AGK) lost 2%, while caterer Compass Group (LON:CPG), Associated British Foods (LON:ABF) and defence contractor Cobham (LON:COB) added more than 1.5%.
The Dow Jones Industrial Average and the S&P 500 index closed with gains of 0.4%, while the technology heavy NASDAQ composite added 0.1%.
JP Morgan Chase (NYSE:JPM) led the Dow Jones constituents, advancing 2%. Bank of America (NYSE:BAC) and ExxonMobil (LON:XOM) followed, rising 1.5% and 1.2% respectively. IBM (NYSE:IBM), Kraft Foods (NYSE:KFT) and 3M (NYSE:MMM) gained just over 1%.
Asian markets were in buying mode today. Hong Kong’s Hang Seng rallied 1.4%, Australia’s S&P/ASX 200 advanced 1% and South Korea’s KOSPI rose 0.1%, while Japan’s Nikkei 225 was flat.
Commodities
Oil prices moved slightly lower. November Brent Crude retreated to US$83.60/barrel, while US light, sweet crude for November delivery declined to US$81.37/barrel.
Precious metals declined with gold inching lower to US$1,317/oz. Silver and platinum dropped to US$22.05/oz and US$1,670/oz respectively.
Some base metals followed as nickel and zinc slid to US$10.76/lb and US$0.992/lb. Copper did better, rising to US$3.66/lb.
US existing home sales data for August is due out today.