Proactive Investors - The FTSE 100 is expected to open higher after strong gains in the US on Friday and as investors digest moves by Saudi Arabia to cut oil production.
Spread betting companies are calling London’s lead index up by around 20 points.
US markets soared on Friday with the Dow Jones climbing over 700 points while the S&P and Nasdaq also advanced strongly.
Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to bolster the sagging oil price.
The announcement of the Saudi cut of one million barrels per day came on Sunday after a meeting of the alliance at OPEC headquarters in Vienna.
The rest of the Opec+ oil producers agreed to extend earlier cuts in supply through the end of 2024.
Asian markets climbed on Monday. In Tokyo, the Nikkei 225 index was up 1.9%. In China, the Shanghai Composite was down 0.1%, while the Hang Seng index in Hong Kong was up 0.2%.