FTSE 100 preview: Index looking up as US recovery continues

Report into RBS’ GRG division leaks online

FTSE 100 preview: Index looking up as US recovery continues

The UK benchmark index looks set to open higher this morning, building on the previous session’s gains, following an upbeat lead from the US. Royal Bank of Scotland Group (LON:RBS) will be in focus today as the report in its controversial restructuring division leaked online.

Footsie to extend gains

IG’s opening calls suggest that the FTSE 100 will start the session 0.13 percent higher at 7,187 points. The blue-chip index is likely to extend gains, taking cues from the US where stocks continued with their recovery last night. JJ Kinahan, chief market strategist at TD Ameritrade, told CNBC that the market was trying to find its balance point following last week’s wild swings. 

“There’s more volatility ahead. These things take a few weeks to get worked out,” he pointed out. Asian shares have also advanced this morning, tracking the US higher.

In the UK, the FTSE 100 rallied in the previous session, gaining 84.63 points to close 1.19 percent higher at 7,177.06, recovering some of the losses posted last week when equities around the world were sold off amid inflation fears.

Tuesday’s agenda

Today’s macroeconomic releases include the UK consumer price index for January, scheduled to be released at 09:30 GMT. On the corporate front, TUI Group (LON:TUI) is set to update investors on its first-quarter performance and Proactive Investors reports that analysts at French broker Kepler Cheuvreux think that the blue-chip tour operator will indicate an improving underlying booking situation which, however, they believe, has not translated into better earnings.

In other news, The Times has revealed that the report into RBS’ Global Restructuring Group was leaked online after it was initially sent to more than 500 members of a group who want to sue the lender over the activities of the controversial division.

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