Proactive Investors - London’s blue chips are expected to open higher on Monday, extending Friday’s strong gains.
Spread betting companies are calling the FTSE 100 up by around 9 points. The index of London large-caps added 59.84 points to 7,531.53 on Friday.
“A decent Asia session looks set to translate into a positive start for European markets although current unrest in France is likely to prompt questions about economic activity there in the coming weeks,” said Michael Hewson at CMC Markets.
In Asia, the Nikkei 225 index in Tokyo was up 1.7%. In China, the Shanghai Composite was up 1.3%, while the Hang Seng index in Hong Kong was up 1.8%.
On Friday, US markets rose after a weaker-than-expected PCE inflation, the Federal Reserve’s preferred inflation gauge.
Today, sees a slew of manufacturing PMIs which are likely to confirm the weakness of the sector.
Hewson said: “Today’s manufacturing PMIs are set to confirm the weak nature of this part of the global economy, with Spain, Italy, France, and Germany PMIs all forecast to slip back to 47.9, 45.3, 45.5, and 41 respectively.”
“UK and US are also expected to remain soft at 46.2 and 46.3 respectively, while the US ISM manufacturing survey, is also forecast to remain below 50, at 47.2, with prices paid at 44.”