FTSE 100 preview: Index looking up as MPs vote to delay Brexit

Lloyds in focus amid prospects for HBOS probe delay

FTSE 100 preview: Index looking up as MPs vote to delay Brexit

The UK benchmark index looks set to open higher this morning, following a parliamentary vote to delay Brexit. In FTSE 100 company news, Lloyds Banking Group (LON:LLOY) will be in focus today amid reports for a possible delay to the probe into the HBOS fraud.

Index looking up

IG’s opening calls suggest that the Footsie will start trading 0.19 percent higher at 7,199 points. The blue-chip index is seen steady after UK lawmakers voted to delay the country’s exit from the European union. Reuters reported that European Council President Donald Tusk had said that EU leaders meeting next Thursday will consider pressing the UK to delay Brexit by at least a year.

US shares were subdued last night, pressured by a fall in Facebook, which has suffered in the wake of a worldwide outage of some of its services. Asian shares meanwhile have climbed higher amid optimism over the trade relations between the US and China.

In the UK, the FTSE 100 rose in the previous session, as MPs said no to no-deal Brexit, and with investors awaiting the parliamentary vote on delay to the country’s exit from the EU. The blue-chip index added 26.24 points to end trading 0.37 percent higher at 7,185.43.

Friday’s agenda

Today’s macroeconomic releases include the eurozone’s consumer price index for February, due out at 10:00 GMT, to be followed by the US Michigan consumer sentiment index for March at 15:00 GMT. In company news, Berkeley Group (LON:BKG) has posted a trading statement this morning.

In other news, Reuters reports that a long-awaited probe into what Lloyds’ executives knew about one of Britain’s worst ever banking frauds is now not likely to be completed until next year.

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