FTSE 100 preview: Index to build on gains after positive US lead

Vodafone plans to cut up to 1,200 jobs in Spain

FTSE 100 preview: Index to build on gains after positive US lead

The FTSE 100 looks set to start the last trading day of the week in positive territory, following positive leads from the US and Asia. Telecoms giant Vodafone (LON:VOD) will be in focus on the corporate front, amid reports that it is planning to axe jobs.

Index seen higher

IG’s opening calls suggest that the Footsie will start trading 0.19 percent higher at 6,956 points. The blue-chip index is likely to take cues from the US, where shares rose last night, despite worries about the continued government shutdown. Asian shares meanwhile have mostly tracked the US higher this morning, with sentiment continuing to improve following the US-China trade talks earlier in the week.

In the UK, the FTSE 100 ended the previous session on a positive note, adding 36.24 points to close 0.52 percent higher at 6,942.87, despite having traded mostly in negative territory earlier in the day. Reuters quoted Ken Odeluga, City Index analyst, as attributing yesterday’s seesaw in UK indexes to “very orderly” profit taking, adding that it was not surprising that “sufficient number of buyers turned up to manage to swing things around later in the day”.

Friday’s agenda

Today’s macroeconomic statements include the UK’s gross domestic product and trade balance for November, due out at 09:30 GMT. IG reports that growth is expected to come in at 0.3 percent for November, while the trade deficit is expected to have narrowed down to £2.2 billion from £3.3 billion. On the other side of the Atlantic, the US consumer price index for December will be announced at 13:30 GMT.

In company news, Reuters reports that Vodafone plans to cut up to 1,200 jobs from its Spanish business.

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