Week ahead: Data set to steer the FTSE after four day rising streak
Markets are set to be moved by data this week after the FTSE 100 posted its biggest weekly gain since mid-April last week.
The blue-chip index closed at 6,270.79 on Friday, a fourth straight day of gains and up two per cent on the week.
The FTSE’s winning run is largely due to an oil price rally that saw a barrel of crude cross the $50 mark earlier last week before dipping slightly.
Oil cartel Opec (the Organization of the Petroleum Exporting Countries) will meet on Thursday and the issue of supply is expected to take centre stage. The group hasn't met since its Doha meeting ended in disarray after Iran refused to compromise on its output.
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Before that, tomorrow brings May’s UK manufacturing purchasing managers’ index.
It’s expected to show the sector improved from April’s lows, attributed to economic uncertainty around the European Union referendum, though will remain in contraction territory.
Earnings season is all but over, though there are still a few stragglers to keep investors busy.
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Car-to-bike retailer Halfords reports full-year numbers tomorrow, while on Thursday catalytic converter supplier Johnson Matthey, is set to post a fall in full-year profit.