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Last update: Fri, 12 Feb 2016 10am
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Traders await British budget update

FTSELONDON: London investors were set for a busy schedule next week as the government presents budget plans, the Bank of England announces monetary policy decisions and the country's biggest retailer Tesco publishes earnings.

 

London's benchmark FTSE 100 index of top companies finished at 5,866.82 points on Friday, up 0.82 percent from a week earlier.

 

British finance minister George Osborne was to announce his latest budget update, or Autumn Statement, at 1230 GMT on Wednesday.

 

Chancellor of the Exchequer Osborne's tax and spend plans were to be accompanied by the coalition government's latest official forecasts for economic growth and borrowing.

 

On Thursday, the Bank of England was widely expected to maintain both record low interest rates and its economic stimulus policy, a week after Osborne appointed Canadian central bank chief Mark Carney as the next governor of the Bank of England.

 

Canadian Carney, 43, was due to replace Mervyn King at the start of July.

 

Also next week, investors were to pore over a third-quarter trading update from supermarket giant Tesco, which has struggled recently amid growing competition, especially from budget chains Aldi and Lidl.

 

Copyright AFP (Agence France-Presse), 2012