March 31, 2015

FTSE 100 in no man's land

Having rediscovered forward gear yesterday, the Footsie looks set to stall at the outset.


Spread betting quotes indicate the top-shares index will open five or six points down from last night's close of 6,891, despite strength overnight on Wall Street.


The Dow Jones average advanced 264 points to 17,976 and the broader-based S&P 500 romped 25 points higher to 2,076, while the NASDAQ Composite jumped 56 points to 4,947.


US investors were heartened by comments from the head of China's central bank plus a slew of merger news.


In Asia, the Nikkei 225 has failed to join the part, sliding 74 points to 19,338, but in Hong Kong the Hang Seng was heading for a 120 point gain at 24,975 shortly before the close.


On the home front, attention will be on the trading update from Kingfisher (LON:KGF), especially in the wake of yesterday's news that the Mr Bricolage takeover is dead in the water.


Other big names yet to feature include life assurance firm Chesnara (LON:CSN) and travel firm Thomas Cook (LON:TCG).



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