London pre-open: Strong start expected ahead of central-bank meetings

4th Jul 2013 07:50

Markets are expected to open firmly higher on Thursday morning ahead of a busy day for investors, with central-bank policy decisions from the Bank of England and European Central Bank in focus.However, volumes are expected to be light with US markets closed for the Independence Day holiday and risk appetite scaled back before the all-important American jobs report due out Friday afternoon.Meanwhile, as Senior Market Analyst Michael Hewson from CMC Markets explains: "Traders are likely to be kept on their toes by prevailing nervousness about the fluid political situation in Egypt, as well as concern about the stability of the governments in Portugal and Greece and their ability to push through their stalled reform programmes."City sources predict the FTSE 100 will open up 35 points from yesterday's close of 6,230. Stocks to watcheasyJet said it cancelled 585 flights in June compared to 22 flights in the same month a year ago, due to the French Air Traffic Control strike. Thousands of flights in and out of French airports were cancelled last month as air traffic controllers were on strike following a call from unions to walk out over plans to create a single European airspace.Housebuilding and construction firm Galliford Try has delivered record profits in the year to June 30th, in line with the market consensus, according to a pre-close trading update on Thursday. The company said that its housebuilding division in particular had performed strongly with a record landbank and year-end sales carried forward position, helped by its focus on the southern regions as well as the government stimulus programme, 'Help to Buy'.Wood Group has secured its sixth major North Sea contract extension this year. It has won a three-year contract from Nexen Petroleum UK to deliver operations, maintenance and technical support services to the Scott and Buzzard platforms.