FTSE nears open as US, Asia surge on Trump tax comments

London equities are poised to open after positive overnight performances by Wall St and Asia as investors liked US President Donald Trump saying that he would soon announce tax-reform measures.

The market is looking to UK industrial and manufacturing production figures, along with the country's goods trade balance and its construction output. German inflation and Italian GDP will also be on investors' radars.

US & ASIA

On Wall St last night, the Dow Jones Industrial Average rose 0.59% to 20,172.40, the S&P 500 firmed 0.58% to 2307.87 and the Nasdaq Composite gained 0.58% to 5715.18.

In Asia this morning, the Nikkei 225 had added 2.49% to 19,378.93, while the Hang Seng rose 0.63% to 23,672.88.

At 6.36am, WTI crude was up 0.28% to $53.15/bbl and Brent was up 0.29% to $55.79/bbl. Gold was down 0.98% to $1224.7/oz, with 0.67% to $1357.9/oz, with silver firmly down and copper convincingly ahead.

LONDON MARKETS

Interim results are due from Oncimmune Holdings, while a trading statement is scheduled for Electrocomponents. GCP Infrastructure convenes a shareholder meeting.