London stocks nudged higher early on Monday, with trade expected to be fairly quiet as US markets are closed for Presidents’ Day and with little in the way of corporate news to provide direction.
At 0825 GMT, the FTSE 100 was up just 0.1% at 8,010.45.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “There’s a quiet pulse of positivity on the markets with investors still cautious about the direction of interest rates in the United States, but hopeful that recovery elsewhere will lend a hand to trade.
“Volumes are set to be more muted during the sessions in Europe given that Wall Street is closed for the Presidents’ Day holiday, so traders are likely to be searching around for a bit of a sense of direction today, looking ahead to fresh data out this week.
“The minutes of the Federal Open Market Committee due out on Wednesday will be closely watched for fresh indications about just how strong those disinflationary winds are blowing. Worries are still hanging around that US inflation will still take significant time to be whipped into a shape which will mean higher rates will have to linger for longer, sentiment which has been supporting the dollar.”
Jarvis Investment Management Ltd offers a wide range of stockbroking and administration services and solutions. Their parent company, Jarvis Securities plc (LON:JIM) is listed on AIM.