LONDON: Britain's blue-chip index was higher by midday on Thursday in anticipation of more upbeat data from the United States and expectations Greece will secure the debt-swap deal it needs to avert a default.
Traders said investors were positioning for further signs the world's largest economy is recovering when the US Labor Department publishes initial claims data for last week at 1330 GMT. Claims are forecast to be flat week on week at 351,000 after a better-than-expected employment report on Wednesday, and raising expectations ahead of Friday's all-important non-farm payrolls.
"We had an ADP number which was strong and there is a lot of talk we're going to get another solid number on the non farms," Giles Watts, head of equities of City Index said. "Things look like they may be turning the corner there."
Revived economic optimism boosted cyclical stocks, with personal goods, industrial metals and engineering and construction material stocks all up between 2.9 percent and 3.3 percent.
The FTSE 100 index rose 78.54 points, or 1.3 percent, to 5869.91 at 1223 GMT.
Comments
Comments are closed for this article.