Markets await Carney and Yellen speeches

The FTSE 100 has set off at a healthy pace this morning, up almost 50 points, with food retailers continuing their recovery for the third day.

Janet Yellen
Source: Bloomberg

Today will see speeches from both Bank of England governor, Mark Carney, in the morning session, and Federal Reserve chair Janet Yellen in the early afternoon. Throw into the mix the monthly EU finance ministers meeting in Brussels, and the opportunity for sentiment changing quotes from one or all of these parties looks high.

This morning’s quarterly figures from energy supplier National Grid look set to keep investors happy, but with pre-tax profits jumping by 16% the usual round of disgruntled customer quotes can’t be too far behind.

With the timeline for interest rate rises being pushed further away, Bovis Homes has seen improving markets enabling it to target strong results for 2014.

Sports Direct’s Mike Ashley has rejigged his exposure to Debenhams, selling off his equity stake for a larger and more complex options position in the company. As much as Geordies might question his tactics, the city still holds him in high regard and will be keeping a close eye on whether this ambitious play pays off.

Warren Buffet’s company Berkshire Hathaway is due to report its third-quarter figures after the US markets close today and regardless of his Tesco investing mishaps, bullish equity markets should ensure a glowing quarter. Markets are once again looking out for the start of the month's non farm payrolls figures coupled with Fed chair Janet Yellens speech. US investors are possibly more concerned with ensuring the recovery remains on track rather than the European desperation for further stimulus. 

Ahead of the open we expect the Dow Jones to start 39 points higher at 17,593.  

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