Proactive Investors - FTSE 100 is expected to open higher as US markets closed higher and Chinese GDP figures came in stronger than expected.
Spread betting companies are calling London’s lead index up by around 18 points.
China’s economy expanded at a faster rate than economists forecasts with GDP in the first quarter up 4.5% year on year as strong growth in exports and infrastructure investment as well as a rebound in retail consumption and property prices drove a recovery in the world’s second-largest economy.
Economists at ING commented: “This is a better-than-expected data report. We expect that the government will hold back extra stimulus plans and the yuan should strengthen.”
They noted the better than expected number reflected stronger growth in retail sales, which accelerated to 10.6% year-on-year in March and 5.8% year-on-year for the first quarter after 3.5% year-on-year growth in January to February.
The GDP figure exceeded analyst expectations of a 4% increase.
Despite the data Asian markets were mixed. In Tokyo, the Nikkei 225 index was up 0.4%. In China, the Shanghai Composite was up 0.1%, but the Hang Seng index in Hong Kong fell around 0.7%.
In New York stocks closed higher on Monday as investors look ahead to a hefty week of corporate news.
The Dow Jones Industrial Average closed up 100.71 points, or 0.3%, at 33,987.18. The S&P 500 gained 13.68 points, or 0.3%, to 4,151.32, while the Nasdaq Composite advanced 34.26 points, or 0.3%, at 12,157.72.
Back in London and the early focus will be unemployment and average earnings figures together with trading statements from gambling firm Entain (LON:ENT) and budget airline easyJet (LON:EZJ).