London pre-open: Stocks seen up on positive US cues
London stocks were set to rise at the open on Monday following a positive close on Wall Street at the end of last week.
The FTSE 100 was called to open 30 points higher at 7,568.
CMC Markets analyst Michael Hewson said: "Despite a disappointing quarter, and their first negative quarter in two years, markets in Europe finished the week on an upbeat note on Friday, as did US markets where another decent payroll report helped to support the idea that the US economy is still some way from a significant slowdown.
"The strong finish seen on Friday looks set to translate into a similarly positive open for markets in Europe this morning, with Asia markets undergoing a relatively subdued session."
Investors will continue to watch for any developments in the Ukraine conflict.
Hewson said: "It is abundantly clear that US rates are currently too low and need to rise, and while last week’s sharp reserve release inspired fall in oil prices may go some way to easing some of the more worrying forecasts when it comes to energy price inflation, concerns about rising prices are unlikely to ease in the short term.
"This is mainly because of reports out of Ukraine at the weekend, where evidence of Russian atrocities and possible war crimes continue to come to light, making the bar for any type of peace accord, much more difficult to achieve.
"It’s hard to imagine Ukraine agreeing to anything that allows the Russians to walk away from answering for what has been uncovered outside Kyiv, especially now they seem to have the upper hand in pushing them back, while EU leaders look to mull the idea of additional sanctions against Russia as these new atrocities come to light.
"The continued unpredictability of the Russian President Vladimir Putin is adding to the uncertainty after he demanded that foreign buyers of Russian gas should start paying in roubles from Friday, contrary to the terms and conditions of the contracts."
In corporate news, insurer Aviva said it had appointed Charlotte Jones as chief financial officer with effect from September 5.
Jones was previously CFO of RSA Insurance and interim chief executive officer of the RSA UK & International business.
Low-cost airline Wizz Air said it had carried 2.47m passengers in March, a 416% increase year-on-year.
Wizz Air, which also reported a load factor of 86.2% for the month, highlighted that it had continued to grow its network and improve its customer offering in March, expanding existing operations in Romania and announcing new routes originating from Italy, United Kingdom and United Arab Emirates to destinations ranging from Greece, Spain, Bulgaria, Cyprus, Montenegro, Israel to Sri Lanka.