The FTSE 100 looks set to start the new week on the front foot, finding support in upbeat leads from the US and Asia following a strong US jobs report on Friday. BT Group (LON:BT.A) will be in focus today amid reports that it is preparing to sell off its City of London headquarters.
Index looking up
IG’s opening calls suggest that the Footsie will start the session 0.51 percent higher at 7,657 points. The blue-chip index is likely to take cues from the US, where shares rose on Friday on the back of a better-than-expected jobs report.
“I think the report is more encouraging than discouraging because it suggests we have a bit more slack in the economy than we expected,” said Bruce McCain, chief investment strategist at Key Private Bank, as quoted by CNBC. “I don’t think this (report) is extreme enough to be considered Goldilocks, […] but it’s still good.” Asian shares meanwhile have tracked the US higher this morning.
In the UK, the FTSE 100 added 14.48 points to end the session 0.19 percent higher at 7,617.70, with investors shrugging off trade war concerns as US tariffs on Chinese goods took effect. ITV (LON:ITV) was the session’s biggest riser in percentage terms, gaining 4.28 percent to 180.40p, following upbeat analyst comments.
Today’s macroeconomic statements include Germany’s trade balance for May, due out at 07:00 BST. There are no blue-chip companies scheduled to update investors on their performance this morning. In corporate news, The Times reports that BT is preparing to sell off its City of London headquarters in a sale-and-leaseback deal which would take advantage of a resilient commercial property market.