FTSE 100 preview: Index seen steady ahead of Trump’s decision on Iran

Shell poised to sell stake in Canadian Natural

FTSE 100 preview: Index seen steady ahead of Trump’s decision on Iran

The FTSE 100 looks set to open higher this morning, extending the previous session’s gains, holding steady as investors await  President Donald Trump’s decision on the Iran deal. Royal Dutch Shell (LON:RDSA) will be in focus amid reports that it is selling its stake in Canadian Natural Resources.

Index looking up

IG’s opening calls suggest that the UK benchmark index will start the session 0.16 percent higher at 7,579 points. The Footsie is likely to take cues from the US, where shares started the week on the front foot last night, despite closing off session highs ahead as President Trump tweeted  he will be announcing his decision on the Iran nuclear deal on Tuesday.

“Oil dove pretty good on that, then energy stocks led us off the highs,” said Dave Lutz, head of ETF trading at JonesTrading, as quoted by CNBC. Asian shares, however, have advanced this morning.

On Friday, the Footsie jumped 64.45 points to end the session 0.86 percent higher at 7,567.14, with investors digesting company releases as well as the latest US jobs report.

Tuesday’s calendar

Today’s macroeconomic releases include Germany’s trade balance for March, due out at 07:00 BST. There are no blue-chips scheduled to update investors on their performance this morning. Later during the week, however, investors will be eyeing updates from Imperial Brands (LON:IMB), BT Group (LON:BT.A), ITV (LON:ITV) and Morrisons (LON:MRW).

Reuters meanwhile reported that Royal Dutch Shell (LON:RDSA) is selling its entire stake in Canadian Natural Resources for $3.3 billion. In other news, the BBC reports that Royal Bank of Scotland’s (LON:RBS) boss Ross McEwan is due to appear before MPs to explain why the bank plans to close scores of branches across Scotland.

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