London is set for a steady start as investors brace themselves for a deluge of corporate and economic announcements.
Financial spreadbetters expect FTSE 1000 to open a few points lower after yesterday’s 20 point gain to 6,808, but events across the Atlantic could see that all change very quickly.
Shares on Wall Street closed down overnight ahead of the conclusion today of the latest meeting of the US Federal Reserve’s interest rate setting committee.
Before that, the growth of the US economy in the second quarter will also be revealed with economists keen to see if the shock drop in the first three months of 2014 was solely down to the terrible weather.
The Dow Jones Industrial Average shed 71 points to 16,912, while Nasdaq and the S&P 500 were largely flat.
Markets though were overshadowed after the close by outstanding results from Twitter.
Shares in the social media giant leapt by 35% in after hours trading as it revealed monthly users rose by 24% in the latest three months.
Analysts had been worried growth had been slowing, but a surge in its use on mobile phones more than eased the doubts. Revenues also came in well above forecasts at US$312mln, a 124% increase though losses rose to US$145mln.
Asian markets rose overnight with the best of the gains in Hong Kong though Shanghai and Tokyo also edged higher.
Barclays will dominate UK corporate announcements this morning.
The bank recently added ‘dark pools’ to the list of scandals and litigation that have hit the bank in recent years, but brokers are hoping for some better news on trading after the unexpectedly good number from rival RBS last week.
Builders merchants Travis Perkins (LON:TPK) reports interims and broker Westhouse forecasts adjusted profits of £159mln. Compass and BAT also report.