FTSE 100 to rebound as polling day nears


(MENAFN- ProactiveInvestors) London is expected to make early gains despite another volatile day on Wall Street.

Financial spreadbet firms suggest Footsie will add around 25 points when trading gets underway though with the election now only a day away trading is set to be subdued.

Opinion calls remain extremely uncertain on the outcome with leaders of the main parties now in their final pitches to sway the undecided before the polls open tomorrow.

UK matters barely register in the US with Wall Street’s attention instead focused on the highest trade gap in seven years. This may mean the 0.2% first quarter GDP may revised down further suggested economists.

The Dow Jones Industrial Average shed 142 points while a poor day for biotech and tech stocks meant a bigger loss for Nasdaq and the S&P 500.

Asian markets made progress with good gains in Hong Kong and Shanghai. Tokyo was flat.

UK company news sees the latest update from supermarket Sainsbury's. The group announced 800 job cuts in April to try to improve its performance. Drugs giant GlaxoSmithKline also release first quarter numbers while Imperial Tobacco issues half-year results.


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