FTSE primed for positive start as Hang Seng soars

FTSE 100 is expected to start the year in positive territory on the back of a strong session in Hong Kong this morning.

The Hang Seng homed in on a 10-year high at 30,463.69 (+1.82%) heading into the close, shrugging off a weaker performance for US stocks on Friday, with notable risers in the banking and property sectors.

At around 6:15am, the index of blue-chip shares was seen 12 points higher at 7,698, according to the spread betting firms.

OVERSEAS MARKETS

In the US on Friday, the Dow closed 0.48%, or 118.29 points, lower at 24,719.22, the S&P 500 fell 0.52%, or 13.93 points, to end 2017 at 2,673.61 and the Nasdaq dropped 0.67%, or 46.77 points, to 6,903.39.

The Nikkei 225 is closed and remains at 22,764.94.

COMMODITIES

WTI crude recently settled at $60.63 (+0.35%) per barrel and Brent at $67.11 (+0.36%) per barrel.

Gold was flat at $1,309.4 an ounce, silver was down 0.55% and copper was 0.64% lower.

LONDON MARKETS

In economic news, manufacturing PMI figures are due this morning.