LONDON (Alliance News) - UK shares set to open higher Thursday, with the focus in the US retail sales data due to be released this afternoon, amid speculation of a summer US interest rate hike, while euro and dollar moves continue to be in the stage centre.
"This week?s trend of euro and dollar moves really dictating the state of play in the markets looks set to continue again this morning," says Craig Erlam, senior market analyst at Oanda.
IG futures indicate the FTSE 100 to open 13 points higher at 6,734. The index closed up 0.3% at 6,721.51 on Wednesday, with some blue-chip stocks in the index benefiting from late bargain hunting after Tuesday losses, but with weaker-that-expected UK industrial production data and some out-of-favour mining and oil stocks limiting gains.
Wall Street ended lower Wednesday, with the DJIA, the S&P 500 and the Nasdaq Composite, down 0.2%.
In Asia on Thursday, the Japanese Nikkei 225 closed up 1.4%, while the Hang Seng trades up 0.5%. The Shanghai Composite is trading up 1.8%.
Brent crude is quoted at around USD58.16 a barrel Thursday, and US benchmark West Texas Intermediate is quoted at USD48.44 a barrel. Gold is quoted early Thursday at USD1,164.12 an ounce.
In the corporate calendar Thursday, Wm Morrisons Supermarkets, Serco Group, SOCO International, Cineworld Group, LSL Property Services, SIG and TT Electronics release full year results. Computacenter, Fenner, Home Retail Group and ASOS issue trading statements.
In the economic calendar, German consumer price index is at 0700 GMT, while French consumer price index is at 0745 GMT while UK Goods trade balance is at 0930 GMT. Eurozone industrial production is at 1000 GMT. In the US, Import and Export price indices, retail sales and initial jobless claims are at 1230 GMT. At 1245 GMT, BoE Governor Mark Carney gives a speech in Sheffield at the Advanced Manufacturing Research Centre.
By Daniel Ruiz; danielruiz@alliancenews.com
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