Proactive Investors - Good morning and the FTSE 100 is expected to make a subdued open as investors await UK wage inflation figures and ponder developments in the Middle East.
Spread betting companies are calling London’s lead index up by around 3 points after closing up 31.03 points at 7,630.63 on Monday.
Excluding bonuses, UK wage inflation is expected to remain unchanged at 7.8% in the three months to August, compared to the three-month period to July. Including bonuses, it's expected to cool to 8.3% from 8.5%, according to FXStreet-cited market consensus.
Hopes that a diplomatic push in the Middle East would stop the crisis in the Middle East spreading boosted US markets with the Dow Jones Industrial Average up 0.9%, the S&P 500 up 1.1% and the Nasdaq Composite 1.2%.
US President Joe Biden will visit the region and meet with leaders, in a bid to prevent the Israel-Hamas conflict from drawing in other countries.
Asian markets followed suit with the Nikkei 225 in Tokyo up 1.0%. In China, the Shanghai Composite was marginally higher, while the Hang Seng index in Hong Kong was up 0.5%.
Back in London, and the early focus will be updates from Bellway (LON:BWY) and moneysupermarket.
Rolls-Royce (LON:RR) will attract attention after reports it is set to axe 2,500 jobs, while Frasers is in the news on reports it is set to expand in Germany.