(MENAFN- ProactiveInvestors - UK) London's FTSE 100 is expected to start Wednesday trading positively boosted by stronger global equity markets following Tuesday's comments from Janet Yellen.
The Federal Reserve chair gave markets a shot in the arm as she said the US central bank would proceed 'cautiously' with plans to raise interest rates in 2016.
'Whatever the reason for her remarks I'm sure there will be few that will disagree with the need for rate increases to be gradual certainly more so than the four hikes the Fed indicated in December' Oanda analyst Craig Erlam said in a note.
The comments helped Wall Street to its best close for 2016 so far.
Up 97 points 0.56% the Dow Jones ended Tuesday at 17633 while the S&P 500 added 0.88% to 2055 and the Nasdaq gained 1.67% to 4846.
In Asia stocks mostly rallied.
The Shanghai Composite rose 1.9% to 2976 while Hong Kong's Hang Seng added 1.4% to 20653.
A weaker US dollar following Yellen's dovishness however saw Japan's export sensitive Nikkei drop just over 1% to 16922.
Elsewhere crude oil prices remained just below $40. Brent crude was changing hands at US$39.45 while US crude futures were priced at US$38.67.
In London equities are seen higher.
CFD and spreadbetting firm IG Markets sees the FTSE 100 some 50 points better an hour before the open calling the blue chip benchmark at 6146 to 6148.
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