Stocks boosted by World Bank forecast

In mid-morning trading the FTSE 100 is up 20 points after the World Bank commented that the global economy is at a ‘turning point’.

Equity markets welcomed the international financial organisation's outlook for 2014, in which it raised its global growth forecasts for the year. Strong German GDP figures gave the Frankfurt market fuel to surge ahead of its European counterparts. In London, Taylor Wimpey posted a 7% increase in sales, as the Help to Buy scheme has paid dividends for UK homebuilders. Tullow Oil raised its revenue and profit forecast, as discoveries in Kenya are expected to boost production. However, the Irish oil exploration company is still surrounded by takeover talk.

Burberry is setting the trend this morning. The fashion house revealed a 14% rise in revenues over the last three months of 2013, and it is making additional inroads into China, where two new shops have been opened. Mineral extractor Anglo American is leading the miners higher, and the company was upgraded by UBS. The Swiss investment bank feels the stock is undervalued.

In the US, we are expecting the Dow Jones to open ten points higher at 16,383, as investors look ahead to the beige book update this evening.

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.