The FTSE 100 looks set to open higher this morning, with easing tension on the Korean peninsula propping up investor sentiment. On the company front, J Sainsbury (LON:SBRY) will be in focus as it unveiled tie-up plans with Walmart’s Asda.
Index looking up
IG’s opening calls suggest that the Footsie will start the session 0.27 percent higher at 7,522 points. The blue-chip index is likely to take cues from Asia, where shares rose on the final trading day of the month for the region as tensions in the Korean Peninsula eased following a summit between North Korean leader Kim Jong Un and South Korea’s Moon Jae-in last week.
In the US, sentiment subdued on Friday, with the Nasdaq erasing a sharp gain.
"It seems like we've reached a peak in momentum," said Daniel Deming, managing director at KKM Financial, told CNBC. "We cleared Wednesday and Thursday with strong earnings but people are still asking: 'Now what?'"
In the UK, the Footsie rose on Friday, adding 80.79 percent to end the session 1.09 percent higher at 7,502.21. The index benefitted from downbeat growth data which sent sterling lower, fuelling demand for shares with international exposure.
Today’s macroeconomic releases include Germany’s preliminary consumer price index for April, due out at 13:00 BST, to be followed by US personal income data for March at 13:30 BST and Chicago’s purchasing managers’ index for April at 14:45 BST. US pending home sales will be announced at 15:00 BST. In company releases, WPP (LON:WPP) is scheduled to update investors on its performance this morning. In other news, Sainsbury’s has agreed the terms of a tie-up deal with Walmart’s Asda. The FTSE 100 supermarket has also posted its results this morning.