The FTSE 100 is expected to rise 19 points (0.3 percent) this morning after rallying 51.5 points (0.85 percent) on Thursday to end the session at 6,054.5, the highest close in two months.
Mining major Antofagasta (LON:ANTO) led the blue chips in London yesterday, climbing 3.8 percent. Hedge fund manager Man Group (LON:EMG) followed, advancing 3.6 percent.
Chipmaker ARM Holdings (LON:ARM) and engineering firm GKN (LON:GKN) both added a little more than 3 percent.
Real estate developer Hammerson (LON:HMSO) was the heaviest faller in the FTSE 100 yesterday, shedding 4.7 percent.
Sector peers Land Securities (LON:LAND) and Capital Shopping Centres Group (LON:CSCG) both fell 3 percent.
Insurance sector focused investor Resolution (LON:RSL) dropped 2.2 percent.
US equities were on the rise yesterday. The Dow Jones Industrial Average (DJIA) climbed 93.5 points (0.75 percent) to end the day at 12,719 and the broader S&P 500 index rallied 14 points (1.05 percent) to 1,353.
Cisco (NYSE:CSCO) and Intel Corp (NYSE:INTC) led the DJIA components yesterday with both companies tacking on just over 2 percent. JP Morgan (NYSE:JPM) advanced 1.9 percent.
Bank of America (NYSE:BAC), Boeing (NYSE:BA) and Microsoft (NYSE:MSFT) all rose 1.7 percent.
Pfizer (NYSE:PFE) was the worst performer in the Dow Jones index yesterday, closing with a 2.6 percent loss.
Asian markets were in buying mode today. Japan’s benchmark Nikkei 225 index stood 87 points (0.85 percent) higher at 10,158 just before close of play. China’s Shanghai Composite Index was up 4.5 points (0.15 percent) at 2,798 at the end of the session.
Commodities
US light, sweet crude for August delivery declined to US$98.60/barrel overnight in Asia. August Brent crude traded at US$118.05/barrel this morning.
Precious metals were in decline this morning. Gold edged lower to US$1,531/oz, while silver and platinum pulled back to US$36.42/oz and US$1,739/oz respectively.
Base metals moved in the same direction as precious metals today. Copper and nickel inched lower to US$4.39/lb and US$10.79/lb respectively. Zinc stood at US$1.079/lb.
Today’s macroeconomic data will include US non-farm payrolls and unemployment rate. An update on the UK’s producer price index will be released this morning.