Stock market news Sept 14: FTSE 100 likely to open at new high of 73 points

Written on:September 14, 2012
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FTSE 100 to open on a new high with the US Fed stimulus

The UK’s FTSE 100 is expected to open at a new high today with 73 points, which is 1.3% higher, after the US Federal Reserve announced stimulus measures worth $40 million (£24.6 million) each month into US economy until revival, brightening the overall economic picture.

On Thursday, the FTSE 100 share index gained 37.84 points, or 0.7% to 5,819.92 points, registering a three-week high, with optimistic outlook on the renewal of merger and acquisition activity, along with an improving technical sector.

The US Fed promised to infuse $40 million (£24.6 million) into the US economy until it saw a continued upturn in the weak job market. With a jumpstart such as this on Friday, miners are likely to be strong performers on expectations that the fresh stimulus would boost demand for industrial metals. Friday witnessed rally of copper prices with highest number of milestone London and Chinese contracts in up to five months.

J D Wetherspoon, M.P. Evans Group, Songbird Estates, Verona Pharma reveal results today. Imagination Technologies Group, First Prperty Group, Immunodiagnostics Systems Holdings, Imaginatik, Mwana Africa hold their Annual General Meeting today.

The focus will shift to the US once again today when August inflation and retail sales data will be out at 12:30 GMT and consumer sentiment data is expected at 13:55 GMT.

Thursday saw BAE Systems negotiate an ambitious merger deal with EADS but experts said yesterday that the the proposed merger may help US rivals win defense contracts, at least in the short-term.

Yesterday, Lonmin finally proposed a deal for striking workers in its South African unit, after four weeks of widespread labour unrest that has posed a threat to the mining output in Africa’s biggest economy.

Supermarket group Sainsbury’s shares rose as speculations regarding its renewed bid talk with Qataris gained momentum. Qataris may be mulling a proposal of between 450-500 pence a share for the group, the Daily Express market report said.

Stock market news Sept 11: Barclays, Burberry, Betfair


One Comment add one

  1. Smith says:

    The US Fed stimulus is a real relief! Hope the markets do well today!

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