FTSE rebounds after Asia rise

City A.M. Reporter
The FTSE 100 index has rebounded after falls in the previous session following gains overnight in Asia, with commodity stocks likely to be in demand buoyed by firmer metals and oil prices.

The blue chip index looks set to add 46 to 51 points, or as much as 0.9 percent, according to financial bookmakers, after it closed 15.42 points, or 0.3 per cent, lower at 5,540.14 on Thursday.

Global stock markets were on their way to a third week of gains on Friday, with emerging markets favoured, while the threat of Japanese intervention kept the yen close to its lows for the month.

U.S. stocks were little changed on Thursday as mixed economic data and a cautious forecast from economic bellwether FedEx kept the market locked in its recent tight trading range.

A drop in initial jobless benefit claims to a two-month low in the most recent week was not enough to lift stocks, while a gauge of business activity in the U.S. Mid-Atlantic region showed a contraction for a second straight month in September.